PRICING SUPPLEMENT File No. 333-97937
- ------------------- Rule 424(b)(3)
(To Prospectus Supplement and Prospectus
dated September 25, 2002)
Pricing Supplement Number: 2298
Merrill Lynch & Co., Inc.
Medium-Term Notes, Series B
Due Nine Months or More from Date of Issue
Fixed Rate Notes
Principal Amount: $265,000,000
Issue Price: 100.00%
CUSIP Number: 59018YQN4
Interest Rate: 2.47% per annum
Original Issue Date: March 12, 2003
Stated Maturity Date: March 10, 2006
Interest Payment Dates: Each March 10th and September 10th, commencing on September 10th, 2003
subject to 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 Credit Lyonnais Securities (USA) Inc.
(the "Underwriters"), are acting as principals in this transaction.
MLPF&S is acting as the Lead Underwriter.
Pursuant to an agreement, dated March 7, 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
------------ ------------------------------
Merrill Lynch, Pierce, Fenner & Smith $259,700,000
Incorporated
Morgan Keegan & Company, Inc. $2,650,000
Credit Lyonnais Securities (USA) Inc. $2,650,000
------------
Total $265,000,000
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 7, 2003