PRICING SUPPLEMENT File No. 333-109802
- ------------------
(To Prospectus Supplement and Prospectus Rule 424(b)(3)
dated November 26, 2003)
Pricing Supplement Number: 2391
Merrill Lynch & Co., Inc.
Medium-Term Notes, Series C
Due Nine Months or More from Date of Issue
Floating Rate Notes
Principal Amount:$200,000,000 Original Issue Date: July 27, 2004
CUSIP Number: 59018YUC3 Stated Maturity Date: July 27, 2007
Issue Price: 100%
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
[ ] Prime Rate of Funds Rate
[ ] Federal Funds Rate [ ] CD Rate
[ ] Treasury Rate [ ] Other (see attached)
Designated CMT Page: Designated LIBOR Page:
CMT Moneyline Telerate Page: LIBOR Moneyline Telerate Page: 3750
LIBOR Reuters Page:
Index Maturity: Three Months Minimum Interest Rate: Not Applicable
Spread: + 0.125% Maximum Interest Rate: Not Applicable
Initial Interest Rate: Calculated as if the Original Issuer Spread Multiplier: Not Applicable
Date was an Interest Reset Date
Interest Reset Dates: Quarterly, on the 27th of January, April, July and October, commencing on October
27, 2004, subject to modified following Business Day convention.
Interest Payment Date: Quarterly, on the 27th of January, April, July and October, commencing on October
27, 2004, subject to 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"), ABN AMRO
Incorporated and Wachovia Securities Inc. (the "Underwriters"), are acting as
principals in this transaction. MLPF&S is acting as the Lead Underwriter.
Pursuant to an agreement, dated July 22, 2004 (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 $196,000,000
Incorporated
ABN AMRO Incorporated $2,000,000
Wachovia Securities Inc. $2,000,000
------------
Total $200,000,000
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.
Underwriting Discount: 0.25%
Dated: July 22, 2004