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Merrill Lynch STRIDES Callable 12% Apple Inc. due 9/5/2009
Ticker Symbol: AVN* CUSIP: 59022W463 Exchange: NYSEA
* NOTE: This security is no longer trading as of 9/05/2009
QUANTUMONLINE.COM SECURITY DESCRIPTION: Merrill Lynch & Co. Inc., 12% Callable STRIDES (Callable STock Return Income DEbt Securities), issued at $25 per unit, due 9/5/2009 and linked to the price of Apple Inc. (Nasdaq: AAPL) common stock. Distributions of 12% ($3.00) per annum are paid quarterly on 3/4, 6/4, 9/4 & 12/4 to holders of record 15 calendar days prior to the payment date. The STRIDES are callable at Merrill Lynch's option on or after 9/5/2008. If called, the payment will be in cash to provide a yield to call, including all previous interest payments, of 20.10% per year. See page TS-10 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 Apple common stock equal to the then current share multiplier for each STRIDES. The initial share multiplier is 0.18750778. See page TS-5 of the prospectus for the hypothetical maturity payments. If the price of Apple 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 (AAPL)
IPO - 9/4/2007 - 4.00 Million Units @ $25.00/unit.
Link to IPO Prospectus
Market Value $100.0 Million
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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