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PRICING SUPPLEMENT
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(To
MTN Prospectus Supplement, general Prospectus Supplement and Prospectus
dated March 31, 2006)
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Pricing
Supplement Number: 2547
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Merrill
Lynch & Co., Inc.
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Medium-Term
Notes, Series C
Due
Nine Months or More from Date of Issue
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Fixed
Rate Notes
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Principal
Amount:
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$25,000,000
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Issue
Price:
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The
Notes will be offered at varying prices related to prevailing market
prices.
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Denominations:
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$1,000
and integral multiples thereof
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Purchase
Price
to
Underwriter:
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100%
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CUSIP
Number:
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59018YXQ9
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Interest
Rate:
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6.90%,
calculated on the basis of a 360 day year of twelve 30 day months
(unadjusted).
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Original
Issue Date:
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June
23, 2006
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Stated
Maturity Date:
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June
23, 2036
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Interest
Payment
Dates:
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June
23 and December 23 of each year, commencing December 23, 2006 subject to
the following Business Day convention.
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Repayment
at the Option
of
the Holder:
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The
Notes cannot be repaid at the option of the holder prior to the Stated
Maturity Date.
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Redemption
at the
Option
of the
Company:
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On
and after June 23, 2008, the Notes will be subject to redemption at the
option of Merrill Lynch & Co., Inc. (the “Company”) in whole
or in part on each Interest Payment Date upon 5 days’ notice at a
price equal to 100% of the principal amount per Note plus accrued and
unpaid interest.
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Form:
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The
Notes will be issued in fully registered book-entry form. As
described in the accompanying prospectus supplement, upon issuance, all of
the Notes will be represented by one or more fully registered global
Notes. Each global Note will be deposited with, or on behalf of, The
Depository Trust Company, otherwise known as DTC, or any successor to it
(the “depository”), as depositary, and registered in the name of Cede
& Co., DTC’s partnership nominee.
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Investors
may elect to hold interests in the global Notes through either the
depository, in the United States, or Clearstream Banking, société anonyme
(“Clearstream, Luxembourg”), or Euroclear Bank S.A./N.V., as operator of
the Euroclear System (“Euroclear”), if they are participants in these
systems, or indirectly through organizations which are participants in
these systems.
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Clearstream,
Luxembourg and Euroclear will hold interests on behalf of their
participants through customers’ securities accounts in Clearstream,
Luxembourg’s and Euroclear’s names on
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the
books of their respective depositaries, which in turn will hold interests
in customers’ securities accounts in the depositaries’ names on the books
of the depository. At
the present time, Citibank, N.A. acts as U.S. depositary for Clearstream,
Luxembourg and JPMorgan Chase Bank, N.A. acts as U.S. depositary for
Euroclear (the “U.S. Depositaries”). Beneficial interests in the global
securities will be held in denominations of $1,000 and integral multiples
thereof. Except as set forth below or in the accompanying prospectus
supplement, the global securities may be transferred, in whole but not in
part, only to another nominee of the depositary or to a successor of the
depository or its nominee.
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Trustee:
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JPMorgan
Chase Bank, N.A.
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Underwriter:
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Merrill
Lynch, Pierce, Fenner & Smith Incorporated
(“MLPF&S”)
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Risk
Factor:
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The
Company may redeem the Notes on any Interest Payment Date on or after June
23, 2008 upon 5 days’ notice. In the event that the Company
redeems the Notes prior to the Stated Maturity Date, investors will
receive only the principal amount of the Notes plus accrued and unpaid
interest to but excluding the early redemption date, and investors will
not receive the benefit of any future interest payments. The
Notes are less likely to become subject to early redemption during periods
when interest is accruing on the Notes at a rate below prevailing interest
rates, and more likely to become subject to early redemption during
periods when interest is accruing on the Notes at a rate above prevailing
interest rates.
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Business
Day:
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Any
day other than a Saturday or Sunday that is neither a legal holiday nor a
day on which banking institutions in The City of New York are authorized
or required by law, regulation or executive order to
close.
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Dated:
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June
15, 2006
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