File No. 333-132911
Rule 424(b)(3)
PROSPECTUS SUPPLEMENT
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(To MTN prospectus supplement,
general prospectus supplement
and prospectus, each dated March 31, 2006)
Prospectus number: 2537
Merrill Lynch & Co., Inc.
Medium-Term Notes, Series C
Due Nine Months or More from Date of Issue
Floating Rate Notes
Principal Amount: $775,000,000 Original Issue Date: May 26, 2006
CUSIP Number: 59018YXH9 Stated Maturity Date: May 29, 2007
Issue Price: 100%
Interest Calculation: Day Count Convention:
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|x| Regular Floating Rate Note |x| Actual/360
|_| Inverse Floating Rate Note |_| 30/360
(Fixed Interest Rate): |_| Actual/Actual
Interest Rate Basis:
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|_| LIBOR |_| Commercial Paper Rate
|_| CMT Rate |_| Eleventh District Cost of Funds Rate
|_| Prime Rate |_| CD Rate
|x| Federal Funds Open Rate |_| Other (see attached)
|_| Treasury Rate
Designated CMT Page: Designated LIBOR Page:
CMT Telerate Page: LIBOR Telerate Page:
CMT Reuters Page: LIBOR Reuters Page:
Index Maturity: One Day Minimum Interest Rate: Not Applicable
Spread: Plus 0.05% Maximum Interest Rate: Not Applicable
Initial Interest Rate: Calculated as if the Original Issue Spread Multiplier: Not Applicable
Date was an Interest Reset Date
Interest Reset Dates: Each Business Day, commencing May 24, 2006 to but excluding the Stated Maturity Date, subject to
the following Business day convention.
Interest Payment Dates: Quarterly, on the 29th of August, November, February and maturity commencing August 29, 2006,
subject to the following Business day convention.
Fed Funds Open Rate: The rate for an Interest Reset Date shall be the rate set forth on Telerate Page 5 for that day
underneath the caption "FEDERAL FUNDS" in the row titled "OPEN". If the rate is not available for
an Interest Reset Date, the rate for that Interest Reset Date shall be the Federal Funds
Effective rate as published in the H. 15 Daily Update.
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, N.A.
Underwriters: Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S"), Morgan Keegan & Company, Inc. and
Loop Capital Markets LLC (the "Underwriters"), are acting as principals in this transaction.
MLPF&S is acting as the Lead Underwriter.
Pursuant to an agreement, dated May 23, 2006 (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
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Merrill Lynch, Pierce, Fenner & Smith $759,500,000
Incorporated
Morgan Keegan & Company, Inc. $7,750,000
Loop Capital Markets LLC $7,750,000
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Total $775,000,000
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: 0.0750%
Dated: May 23, 2006