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Merrill Lynch STRIDES Callable 9.25% Oracle Corp. due 9/1/2010
Ticker Symbol: OLE* CUSIP: 59023V779 Exchange: NYSEA
* NOTE: This security is no longer trading as of 9/01/2010
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Merrill Lynch & Co. Inc., 9.25% Callable STRIDES (Callable STock Return Income DEbt Securities), issued at $25 per unit, due 9/1/2010 and linked to the price of Oracle Corp. (Nasdaq: ORCL) common stock. The notes make no guarantee of the return of principal at maturity. Distributions of 9.25% ($2.3125) per annum are paid quarterly on 3/1, 6/1, 9/1 & 12/1 to holders of record 15 calendar days prior to the payment date. The STRIDES are callable at Merrill Lynch's option on or after 9/10/2009. If called, the payment will be in cash to provide a yield to call, including all previous interest payments, of 14.25% per year. See page TS-3 of the prospectus for the call price methodology. At maturity, if not called prior to the maturity date, the STRIDES will deliver the number of shares of Oracle common stock equal to the then current share multiplier for each STRIDES. The initial share multiplier is 1.10738047 based on a volume weighted initial average price of $22.5758. See page TS-5 of the prospectus for the hypothetical maturity payments. If the price of Oracle common stock has decreased during the term of the notes, the value of the common stock delivered at the maturity date will be be less, and possibly significantly less, than the original $25 purchase price of the STRIDES. The STRIDES are senior unsecured debt securities of Merrill Lynch & Co. Inc. and rank equally with all other unsecured and unsubordinated debt of Merrill Lynch. See the IPO Prospectus for further information on the call provisions, maturity payment and the STRIDES in general by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (ORCL)
IPO - 9/5/2008 - 1.49 Million Units @ $25.00/unit.
Link to IPO Prospectus
Market Value $37.2 Million
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Company's Online Information Links
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HOME PAGE:
http://www.ml.com/
(This parent company URL is for reference only and does not have specific information on the security.)
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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 - David H. Komansky |
CFO - Thomas H. Patrick |
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