Filed under Rule 433
File No. 333-132911
[LOGO OMITTED]
Merrill Lynch & Co., Inc.
$2,000,000,000 6.050% Subordinated Notes due May 16th, 2016
Final Term Sheet
Issuer: Merrill Lynch & Co., Inc.
Expected Ratings: A1/A/A+/A high
Type: SEC Registered - Registration Statement No. 333-132911
Ranking: Subordinated Unsecured
Principal Amount: $2,000,000,000
Pricing Date: May 11th, 2006
Settlement Date: May 16th, 2006 (T+3)
Maturity Date: May 16th, 2016
Interest Payment Dates: Interest will be paid on the Maturity Date and semiannually on
May 16 and November 16 of each year, commencing on November 16,
2006, provided that if any such day is not a Business Day, the
payment will be made on the next Business Day unadjusted.
Benchmark Treasury: 4.50% due 2/15/2016
UST Spot (Px/Yield) 95-00+/5.155%
Spread to Benchmark +92 basis points 0.92%
Yield to Maturity 6.075%
Coupon 6.050%
Price to Public: 99.815%
Proceeds to Issuer: $1,986,300,000 (Before expenses)
Daycount 30/360
Minimum Denomination: Minimum denominations of $100,000 and integral multiples of $1,000.
Redemption
Make Whole: At any time at the Treasury Rate plus 20 basis points 0.20%
Cusip 590188 4M 7
Accrual of Interest: Interest payments will include the amount of interest accrued from
and including the most recent Interest Payment Date to which interest
has been paid (or from and including the Original Issue Date) to, but
excluding, the applicable Interest Payment Date.
Underwriter: Merrill Lynch, & Co. (1,980,000,000)
Co-Managers: Wachovia Capital Markets, LLC (10,000,000)
HSBC Securities (USA) Inc. (10,000,000)
Other Provisions: "Business Day" means any day, other than a Saturday or Sunday, that
is neither a legal holiday nor a day on which banking institutions
are authorized or required by law or regulation (including any
executive order) to close in the City of New York.
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The Issuer has filed a registration statement (including a prospectus) with
the SEC for the offering to which this communication relates. Before you
invest, you should read the prospectus in that registration statement and
other documents the Issuer has filed with the SEC for more complete
information about the Issuer and this offering. You may get these documents
for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively
Merrill Lynch, Pierce, Fenner & Smith Incorporated will arrange to send you
the prospectus if you request it by calling Merrill Lynch, Pierce, Fenner &
Smith Incorporated toll-free at 1-866-500-5408