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Merrill Lynch Preferred Capital Trust I, 7 3/4% TOPrS Preferred Securities
Ticker Symbol: MER-B* CUSIP: 589977206 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/30/2006
Security has been Called for: Saturday, December 30, 2006
November 29, 2006 -- Merrill Lynch & Co., Inc., as sponsor of Merrill Lynch Preferred Capital Trust I, announced today that Merrill Lynch Preferred Capital Trust I will redeem all of its outstanding 7 3/4% Trust Originated Preferred Securities on December 30, 2006. The Trust Preferred Securities are listed on the New York Stock Exchange and trade under the symbol MERPRB. Pursuant to the redemption provisions of the Amended and Restated Declaration of Trust, dated as of December 11, 1996, by and among Merrill Lynch & Co., Inc., as Sponsor, The Bank of New York (as successor to The Chase Manhattan Bank), as Property Trustee, Chase Bank USA, National Association (as successor to Chase Manhattan Bank Delaware), as Delaware Trustee and the Regular Trustees named therein (or the successors thereto), the Trust Preferred Securities will be redeemed at the redemption price of $25 per Trust Preferred Security plus accrued and unpaid distributions, if any, to but excluding the date of redemption. Since the date of redemption is not a business day, in accordance with the Declaration of Trust, The Bank of New York, as Paying Agent, will make funds available for the payment of the redemption price to the holders of the Trust Preferred Securities by 12:00 p.m. on December 29, 2006, the business day immediately preceding the redemption date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Merrill Lynch Preferred Capital Trust I, 7 3/4% Trust Originated Preferred Securities (TOPRS), liquidation amount $25, guaranteed by Merrill Lynch & Co. Inc. (NYSE: MER), redeemable at the issuer's option on or after 12/30/2006 at $25 per share plus accrued and unpaid dividends, with no scheduled maturity, distributions of 7 3/4% per annum are paid quarterly on 3/30, 6/30, 9/30 & 12/30 to holders of record one business day prior to the payment date. The company has the right, at any time, to defer interest payments for up to 6 consecutive quarters (see IPO prospectus for details). The trust's assets consist of the 7.75% Partnership Preferred Securities representing the limited partnership interests of Merrill Lynch Preferred Funding I L.P. which have no scheduled maturity date and which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (MER)
IPO - 12/17/1996 - 11.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $293.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 4 World Financial Center, North Tower, New York, NY 10080 |
| Main Phone Number |
212-449-1000 |
| Fax Number |
212-236-4384 |
| Investor Relations
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866-607-1234
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| Toll Free Phone Number |
800-637-7455 |
| CEO - John A. Thain |
CFO - Nelson Chai |
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