Published on 4/30/2004 in the Prospect News Convertibles Daily.
New Issue: Merrill prices $25 million 6% callable Strides exchangeable for Yahoo!
New York, April 30 - Merrill Lynch & Co. Inc. priced $25 million one-year 6% callable Strides (Stock Return Income Debt Securities) payable at maturity with Yahoo! Inc. common stock, according to a filing with the Securities and Exchange Commission.
| Issuer: | Merrill Lynch & Co. Inc.
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| Issue: | Callable Strides (Stock Return Income Debt Securities) senior notes
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| Underlying stock: | Yahoo! Inc.
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| Amount: | $25 million
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| Maturity: | May 11, 2005
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| Coupon: | 6%, payable quarterly
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| Price: | Par of $25
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| Exchange ratio: | 0.43844265 at maturity
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| Exchange price: | $57.02 (average price of stock on pricing date)
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| Call: | Nov. 12, 2004 onwards at price to give yield to call of 17%
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| Pricing date: | April 28
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| Settlement date: | May 5
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| Underwriter: | Merrill Lynch & Co.
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| Distribution: | Off shelf
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| Listing: | "STY" on American Stock Exchange
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