PRICING SUPPLEMENT File No. 333-105098
- ------------------ Rule 424(b)(3)
(To Prospectus Supplement and Prospectus
dated June 3, 2003)
Pricing Supplement Number: 2343
Merrill Lynch & Co., Inc.
Medium-Term Notes, Series B
Due Nine Months or More from Date of Issue
Floating Rate Notes
Principal Amount: $225,000,000 Original Issue Date: November 4, 2003
CUSIP Number: 59018YSG7 Stated Maturity Date: November 4, 2005
Issue Price: 100%
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 MoneylineTelerate Page: 3750
LIBOR Reuters Page:
Index Maturity: Three Months Minimum Interest Rate: Not Applicable
Spread: + 0.07% 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 4th of February, May, August and
November, commencing on February 4, 2004, subject to
modified following Business Day convention.
Interest Payment Dates: Quarterly, on the 4th of February, May, August and
November, commencing on February 4, 2004, 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"), Santander Central Hispano Investment
Securities Inc. and BNP Paribas Securities Corp. (the
"Underwriters"), are acting as principals in this
transaction. MLPF&S is acting as the Lead Underwriter.
Pursuant to an agreement, dated October 28, 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 $220,500,000
Incorporated
Santander Central Hispano Investment
Securities Inc. $2,250,000
BNP Paribas Securities Corp. $2,250,000
------------
Total $225,000,000
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: 0.175%
Dated: October 28, 2003