PRICING SUPPLEMENT File No. 333-105098
- ------------------- Rule 424(b)(3)
(To Prospectus Supplement and Prospectus dated
June 3, 2003)
Pricing Supplement Number: 2329
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: August 1, 2003
Issue Price: 100.00% Stated Maturity Date: August 1, 2005
CUSIP Number: 59018YRS2
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:
LIBOR Reuters Page:
Index Maturity: Not Applicable Minimum Interest Rate: Not Applicable
Spread: + 0.250% 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 August 2, 2003 to but excluding the Stated
Maturity Date, subject to the following Business Day convention.
Interest Payment Dates: Quarterly, on the 1st of February, May, August and November, commencing
November 1, 2003 until maturity, 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"), Morgan
Keegan & Company, Inc. and ABN AMRO Incorporated (the "Underwriters"), are
acting as principals in this transaction. MLPF&S is acting as the Lead
Underwriter.
Pursuant to an agreement, dated July 29, 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 $ 147,000,000
Incorporated
Morgan Keegan & Company, Inc. $1,500,000
ABN AMRO Incorporated $1,500,000
-------------
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: July 29, 2003