File No. 333-97937
PRICING SUPPLEMENT Rule 424(b)(3)
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(To Prospectus Supplement and Prospectus dated
September 25, 2002)
Pricing Supplement Number: 2295
Merrill Lynch & Co., Inc.
Medium-Term Notes, Series B
Due Nine Months or More from Date of Issue
Floating Rate Notes
Principal Amount: $250,000,000 Original Issue Date: March 7, 2003
CUSIP Number: 59018YQK0 Stated Maturity Date: March 7, 2006
Issue Price: 100.0000%
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 Moneyline Telerate Page: LIBOR Moneyline Telerate Page: 3750
LIBOR Reuters Page:
Index Maturity: Three Months Minimum Interest Rate: Not Applicable
Spread: + 0.31% Maximum Interest Rate: Not Applicable
Initial Interest Rate: Calculated as if the Spread Multiplier: Not Applicable
Original Issue Date
was an Interest Reset
Date
Interest Reset Dates: Quarterly, on the 7th of March, June, September
and December, commencing on June 7, 2003, subject
to modified following Business Day convention.
Interest Payment Dates: Quarterly, on the 7th of March, June, September
and December, commencing on June 7, 2003, 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"), Morgan Keegan & Company, Inc. 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 March 4, 2003 (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 $245,000,000
Incorporated
Morgan Keegan & Company, Inc. $2,500,000
Wachovia Securities, Inc. $2,500,000
------------
Total $250,000,000
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: March 4, 2003