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EXHIBIT 99
PROSPECTUS SUPPLEMENT
(To Prospectus dated January 31, 2000)
[LOGO] PHARMACEUTICAL HOLDRS(SM)
1,000,000,000 Depositary Receipts
Pharmaceutical HOLDRS(SM) Trust
This prospectus supplement amends and supplements information contained in
the prospectus dated January 31, 2000 relating to the sale of up to
1,000,000,000 depositary receipts by Pharmaceutical HOLDRS(SM) Trust.
The share amounts specified in the table on page 10 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>
Merck & Co., Inc. MRK 22 NYSE
Pfizer Inc. (/1/) PFE 58* NYSE
Johnson & Johnson JNJ 13 NYSE
Bristol-Myers Squibb Company BMY 18 NYSE
Eli Lilly & Company LLY 10 NYSE
Schering-Plough Corporation SGP 14 NYSE
American Home Products Corporation AHP 12 NYSE
Abbott Laboratories ABT 14 NYSE
Biovail Corporation (/2/) BVF 2 NYSE
King Pharmaceuticals, Inc. (/3/) KG 1.5* NYSE
Forest Laboratories, Inc. FRX 1 NYSE
Andrx Corporation ADRX 2* NASDAQ
Allergan, Inc. AGN 1 NYSE
Jones Pharma Inc. JMED 1.5* NASDAQ
Watson Pharmaceuticals, Inc. WPI 1 NYSE
ICN Pharmaceuticals, Inc. ICN 1 NYSE
Mylan Laboratories, Inc. MYL 1 NYSE
IVAX Corporation IVX 1.5* AMEX
</TABLE>
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* Reflects previous stock split or business combination transaction.
(1) On June 19, 2000, Pfizer Inc. completed its acquisition of Warner-Lambert
Company, exchanging 2.75 shares of Pfizer common stock for each share of
Warner-Lambert common stock. As a result, the eight shares of Warner-
Lambert previously represented in each round-lot of 100 Pharmaceutical
HOLDRS have been exchanged for 22 shares of Pfizer. The share amount of
Pfizer represented by a round-lot of 100 Pharmaceutical HOLDRS is now 58.
(2) On March 16, 2000, Biovail Corporation International changed its name to
Biovail Corporation.
(3) On May 23, 2000, King Pharmaceuticals, Inc. began trading on the New York
Stock Exchange under the symbol "KG".
In March 2000, Monsanto Company merged with Pharmacia & Upjohn, Inc.,
creating the combined company Pharmacia Corporation. As a result, shares of
Pharmacia Corporation were distributed to holders of Pharmaceutical HOLDRS and
shares of common stock of Pharmacia & Upjohn, Inc. are no longer represented
in the Pharmaceutical HOLDRS.
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.
