PROSPECTUS SUPPLEMENT File No. 333-132911
- --------------------- Rule 424(b)(3)
(To MTN prospectus supplement
general prospectus supplement and
prospectus, each dated March 31, 2006)
Prospectus number: 2548
Merrill Lynch & Co., Inc.
Medium-Term Notes, Series C
Due Nine Months or More from Date of Issue
Floating Rate Notes
Principal Amount: $630,000,000 Original Issue Date: June 26, 2006
CUSIP Number: 59018YXR7 Stated Maturity Date: June 26, 2008
Issue Price: 100%
Interest Calculation: Day Count Convention:
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[ 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 Open Rate [ ] Other (see attached)
[ ] Treasury Rate
Designated CMT Page: Designated LIBOR Page:
CMT Telerate Page: LIBOR Telerate Page:
CMT Reuters Page: LIBOR Reuters Page:
Index Maturity: One Day Minimum Interest Rate: Not Applicable
Spread: Plus 0.11% 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 June 27, 2006 to but excluding the
Stated Maturity Date, subject to the following Business Day convention.
Interest Payment
Dates: Monthly, on the 26th of each month commencing July 26, 2006,
subject to the following Business Day convention.
Fed Funds Open Rate: The rate for an Interest Reset Date shall be the rate set
forth on Telerate Page 5 for that day underneath the caption
"FEDERAL FUNDS" in the row titled "OPEN". If the rate is not
available for an Interest Reset Date, the rate for that
Interest Reset Date shall be the Federal Funds Effective
rate as published in the H.15 Daily Update.
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, N.A.
Underwriters: Merrill Lynch, Pierce, Fenner & Smith Incorporated ("MLPF&S"),
Fifth Third Securities, Inc. and Morgan Keegan & Company, Inc.
(the "Underwriters"), are acting as principals in this
transaction. MLPF&S is acting as the Lead Underwriter.
Pursuant to an agreement, dated June 21st, 2006 (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
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Merrill Lynch, Pierce, Fenner & Smith $617,400,000
Incorporated
Fifth Third Securities, Inc. $6,300,000
Morgan Keegan & Company, Inc. $6,300,000
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Total $630,000,000
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: 0.1750%
Dated: June 21, 2006