Pricing Supplement No. 2 Filing under Rule 424(b) (3)
Dated December 18, 2000 Registration File No. 333-77569
(to Prospectus dated August 3,
2000 and Prospectus Supplement
dated September 7, 2000)
Merck & Co., Inc.
Medium-Term Notes, Series D
Floating Rate Notes
Principal Amount $46,000,000
Trade Date: December 18, 2000
Settlement Date
(Original Issue Date): December 21, 2000
Stated Maturity: December 21, 2040
Interest Rate Basis: 1-Month LIBOR
Spread: Minus 45 basis points
Initial Interest Rate: 1-month LIBOR, determined as if the original
issue date were an interest reset date, minus
the spread
Interest Reset Dates: March 21, June 21, September 21 and December 21
of each year
Interest Payment Dates: March 21, June 21, September 21 and December 21
of each year, commencing March 21, 2001
Issue Price: 100.00% of the principal amount
Agent's Commission: 1.00% of the principal amount
Net Proceeds to Merck: 99.00% of the principal amount
Calculation Agent: U.S. Bank Trust National Association
CUSIP: 58933N AN 9
<PAGE>
Optional
Repayment Dates: The notes will be repaid at the option of the
holder on the optional repayment dates (subject
to prior notice) and at the repayment prices as
shown below:
Optional Repayment Dates Repayment Price
------------------------ ---------------
December 21, 2010 99.00%
December 21, 2013 99.25%
December 21, 2016 99.50%
December 21, 2019 99.75%
December 21, 2022 and 100.00%
December 21 of each
third year thereafter
until maturity
Redemption
Commencement Date: December 21, 2030. The notes may be redeemed at
the option of Merck at the redemption prices
shown below during the redemption periods shown
below:
<TABLE>
<CAPTION>
Redemption Periods Redemption Price
------------------ ----------------
<S> <C> <C>
December 21, 2030 through December 20, 2031 105.00%
December 21, 2031 through December 20, 2032 104.50%
December 21, 2032 through December 20, 2033 104.00%
December 21, 2033 through December 20, 2034 103.50%
December 21, 2034 through December 20, 2035 103.00%
December 21, 2035 through December 20, 2036 102.50%
December 21, 2036 through December 20, 2037 102.00%
December 21, 2037 through December 20, 2038 101.50%
December 21, 2038 through December 20, 2039 101.00%
December 21, 2039 through December 20, 2040 100.50%
</TABLE>
Underwriter UBS Warburg LLC
UBS WARBURG
