PRICING SUPPLEMENT File No. 333-97937
- ------------------- Rule 424(b)(3)
(To Prospectus Supplement and Prospectus dated
September 25, 2002)
Pricing Supplement Number: 2301
Merrill Lynch & Co., Inc.
Medium-Term Notes, Series B
Due Nine Months or More from Date of Issue
Floating Rate Notes
Principal Amount: $150,000,000 Original Issue Date: April 16, 2003
Issue Price: 100.00% Stated Maturity Date: April 16, 2004
CUSIP Number: 59018YQR5
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:
- -------------------
| | LIBOR | | Commercial Paper Rate
| | CMT Rate | | Eleventh District Cost of Funds Rate
| | Prime Rate | | CD Rate
| x | 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: Not Applicable Minimum Interest Rate: Not Applicable
Spread: +0.06% Maximum Interest Rate: Not Applicable
Initial Interest Rate: Calculated as if the Original Issue Date Spread Multiplier: Not Applicable
was an Interest Reset Date
Interest Reset Dates: Each Business Day, commencing April 17, 2003 to but excluding the Stated Maturity
Date, subject to the following Business Day convention.
Interest Payment Dates: Quarterly, on the 16th of July, October, January and maturity commencing July 16,
2003 subject to the 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 April 10, 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 the Notes set forth opposite its name below:
Underwriters Principal Amount of the Notes
------------ -----------------------------
Merrill Lynch, Pierce, Fenner & Smith
Incorporated $ 145,500,000
ABN AMRO Incorporated $ 2,250,000
Wachovia Securities, Inc. $ 2,250,000
----------------
Total $ 150,000,000
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: April 10, 2003