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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