PRICING SUPPLEMENT File No. 333-97937
- ------------------ Rule 424(b)(3)
(To the Prospectus Supplement and Prospectus
dated September 25, 2002)
Pricing Supplement Number: 2259
Merrill Lynch & Co., Inc.
Medium-Term Notes, Series B
Due Nine Months or More from Date of Issue
Floating Rate Notes
Principal Amount: $305,000,000 Original Issue Date: November 19, 2002
Issue Price: 100.00% Stated Maturity Date: November 19, 2003
CUSIP Number: 59018YPD7
Interest Calculation: Day Count Convention:
- -------------------- --------------------
| x | Regular Floating Rate Note | x | Actual/360
| | Inverse Floating Rate Note | | 30/360
(Fixed Interest Rate): | | Actual/Actual
Interest Rate Basis:
- -------------------
| x | LIBOR | | Commercial Paper Rate
| | CMT Rate | | Eleventh District Cost of Funds Rate
| | Prime Rate | | CD Rate
| | Federal Funds Rate | | Other (see attached)
| | Treasury Rate
Designated CMT Page: Designated LIBOR Page:
CMT Telerate Page: LIBOR Moneyline Telerate Page: 3750
CMT Reuters Page: LIBOR Reuters Page:
Index Maturity: One Month Minimum Interest Rate: Not Applicable
Spread: + 0.0400% Maximum Interest Rate: Not Applicable
Initial Interes Rate: Calculated as if the Original Issue Spread Multiplier: Not Applicable
Date was an Interest Reset Date
Interest Reset Dates:
Monthly, on the 19th of every month, commencing December 19, 2002, subject
to the modified following Business Day convention.
Interest Payment Dates:
Monthly, on the 19th of every month, commencing December 19, 2002, subject
to the modified following Business Day convention.
Repayment at the
Option of the Holder: The Notes cannot be repaid prior to the Stated Maturity Date.
Redemption at the
Option of the Company: The Notes cannot be redeemed prior to the Stated Maturity Date.
Form: The Notes are being issued in fully registered book-entry form.
Trustee: JPMorgan Chase Bank
Underwriters: Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S"), Wachovia
Securities, Inc. and ABN AMRO Incorporated (the "Underwriters"), are acting
as principals in this transaction. MLPF&S is acting as the Lead
Underwriter.
Pursuant to an agreement dated November 14, 2002 (the "Agreement"), between
Merrill Lynch & Co., Inc. (the "Company") and the Underwriters, the Company
has agreed to sell to each of the Underwriters and each of the Underwriters
has severally and not jointly agreed to purchase the principal amount of
Notes set forth opposite its name below:
Underwriters Principal Amount of the Notes
------------ -----------------------------
Merrill Lynch, Pierce, Fenner & Smith $292,800,000
Incorporated
Wachovia Securities, Inc. $6,100,000
ABM AMRO Incorporated $6,100,000
------------
Total $305,000,000
Pursuant to the Agreement, the obligations of the Underwriters are subject
to certain conditions and the Underwriters are committed to take and pay
for all of the Notes, if any are taken.
The Underwriters have advised the Company that they propose initially to
offer all or part of the Notes directly to the public at the Issue Price
listed above. After the initial public offering, the Issue Price may be
changed.
The Company has agreed to indemnify the Underwriters against certain
liabilities, including liabilities under the Securities Act of 1933, as
amended.
Dated: November 14, 2002