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EXHIBIT 99
PROSPECTUS SUPPLEMENT No. 3
(To Prospectus dated November 22, 1999)
[LOGO] BIOTECH HOLDRS(SM)
1,000,000,000 Depositary Receipts
Biotech HOLDRS(SM) Trust
This prospectus supplement amends and supplements information contained in
the prospectus dated November 22, 1999 relating to the sale of up to
1,000,000,000 depositary receipts by Biotech HOLDRS(SM) Trust.
The share amounts specified in the table on page 9 of the base prospectus
shall be replaced with the following:
<TABLE>
<CAPTION>
Primary
Share Trading
Name of Company Ticker Amounts Market
-------------------------------- ------ ------- -------
<S> <C> <C> <C>
Amgen, Inc. AMGN 46 NASDAQ
Genentech, Inc. DNA 22 NYSE
Biogen, Inc. BGEN 13 NASDAQ
Immunex Corporation IMNX 42* NASDAQ
PE Corp-PE Biosystems Group PEB 18* NYSE
MedImmune, Inc. MEDI 15* NASDAQ
Chiron Corporation CHIR 16 NASDAQ
Genzyme Corporation GENZ 7 NASDAQ
Gilead Sciences, Inc. GILD 4 NASDAQ
Sepracor, Inc. SEPR 6* NASDAQ
IDEC Pharmaceuticals Corporation IDPH 4* NASDAQ
QLT Inc.(/1/) QLTI 5 NASDAQ
Millennium Pharmaceuticals, Inc. MLNM 6* NASDAQ
BioChem Pharma, Inc. BCHE 9 NASDAQ
Affymetrix, Inc. AFFX 2 NASDAQ
Human Genome Sciences, Inc. HGSI 4* NASDAQ
ICOS Corporation ICOS 4 NASDAQ
Enzon, Inc. ENZN 3 NASDAQ
Celera Genomics CRA 4* NYSE
Alkermes, Inc. ALKS 4* NASDAQ
</TABLE>
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* Reflects previous stock split.
(1) On May 26, 2000, QLT Photo Therapeutics, Inc. changed its name to QLT
Inc.
The share amounts listed in the table above reflect all previous stock
splits. The stock prices in the tables set forth in Annex A of the base
prospectus will not be adjusted to account for the stock splits.
The date of this prospectus supplement is June 30, 2000.
