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RULE NO. 424(b)(3)
REGISTRATION NO. 33-65135
PROSPECTUS SUPPLEMENT
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(TO PROSPECTUS AND PROSPECTUS SUPPLEMENT, EACH DATED SEPTEMBER 1, 1995)
MERRILL LYNCH & CO., INC.
MEDIUM-TERM NOTES, SERIES B
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
WEEKLY AVERAGE FEDERAL FUNDS RATE NOTES DUE FEBRUARY 3, 1998
Original Issue Date: February 2, 1996 Maturity Date: February 3, 1998
Spread: +.27%
Principal Amount: $15,000,000
Initial Interest Rate: 5.71%
Interest Payment Dates: May 3, 1996; August 3, 1996; November 3, 1996; February
3, 1997; May 3, 1997; August 3, 1997; November 3, 1997;
and the Maturity Date.
This Prospectus Supplement relates to $15,000,000 aggregate principal
amount of Notes which the Company has agreed to sell to Merrill Lynch, Pierce,
Fenner & Smith Incorporated (the "Underwriter"), and which the Underwriter has
agreed to purchase from the Company, at a price of 99.775% of the principal
amount thereof. The Underwriter has advised the Company that it proposes to
offer the Notes to the public at varying prices relating to prevailing market
prices at the time of resale.
DESCRIPTION OF THE NOTES
The Weekly Average Federal Funds Rate Notes due February 3, 1998 (the
"Weekly Average Federal Funds Rate Notes") are Floating Rate Notes of a series
designated Medium-Term Notes, Series B, as more fully described in the attached
Prospectus Supplement dated September 1, 1995. The applicable Interest Rate
Basis will be the Federal Funds Rate, as defined below. The Weekly Average
Federal Funds Rate Notes due February 3, 1998 are not Federal Funds Rate Notes
described in the attached Prospectus Supplement, and the terms described therein
applicable to Federal Funds Rate Notes are not applicable to the Weekly Average
Federal Funds Rate Notes. Unless otherwise defined herein, terms applicable to
the Weekly Average Federal Funds Rate Notes will be the same as those described
under "Floating Rate Notes" in the accompanying Prospectus Supplement.
The per annum rate of interest payable with respect to the Weekly Average
Federal Funds Rate Notes will be reset on the Wednesday of each week (each an
"Interest Reset Date"). The Interest Determination Date with respect to the
Weekly Average Federal Funds Rate Notes will be the Business Day immediately
preceding each Interest Reset Date and the Interest Rate Basis for such an
Interest Determination Date will equal the average rate for the week period
ending on the Wednesday in the week immediately preceding the week containing
such Interest Determination Date as published by the Board of Governors of the
Federal Reserve System in "Statistical Release H.15(519), Selected Interest
Rates" or any successor publication ("H.15(519)") under the heading "Federal
Funds (Effective)" under the column entitled "Week Ending".
If such rate is not published by 9:00 A.M. on the applicable Calculation
Date relating to an Interest Determination Date, the per annum rate of interest
payable with respect to the Weekly Average Federal Funds Rate Notes will be
reset as of the applicable Interest Reset Date at a rate equal to the average
(mean) of the Federal Funds Rate in effect with respect to each calendar day
from and including the second preceding Thursday to and including the next
preceding Wednesday (the "Calculation Period"), plus the Spread specified above.
For purposes of the preceding sentence, "Calculation Date" shall have the
meaning designated in the attached Prospectus Supplement. Such average rate
will be based upon the rate of interest applicable to each calendar day in the
Calculation Period, which shall equal, for any Business Day within such
Calculation Period, the Federal Funds Rate in effect on such Business Day and,
for any non-Business Day within such Calculation Period, the Federal Funds Rate
in effect on the next preceding Business Day. As used with respect to the
Weekly Average Federal Funds Rate
The date of this Prospectus Supplement is January 31, 1996.
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Notes, "Federal Funds Rate" means, with respect to any Business Day within a
Calculation Period, the rate on such date for Federal Funds as published by the
Board of Governors of the Federal Reserve System in H.15(519) under the heading
"Federal Funds (Effective)".
If the rate for a Business Day is not published by 9:00 A.M. on the
Calculation Date pertaining to such Business Day, the Federal Funds Rate will be
the rate on such date for Federal Funds as published by the Federal Reserve Bank
of New York in its daily statistical release, "Composite 3:30 P.M. Quotations
for U.S. Government Securities" ("Composite Quotation") under the heading
"Federal Funds/Effective Rate". If such rate is not yet published by 9:00 A.M.
on the applicable Calculation Date, the Federal Funds Rate for such Business Day
will be the rate on such date made publicly available by the Federal Reserve
Bank of New York which is equivalent to the rate which appears in H.15(519)
under the heading "Federal Funds (Effective)"; provided, however, that if such
rate is not made publicly available by the Federal Reserve Bank of New York by
9:00 A.M. on the applicable Calculation Date, the Federal Funds Rate will be the
last Federal Funds Rate in effect prior to such Business Day.
The "Calculation Date" with respect to any Business Day within a
Calculation Period described in the preceding paragraph shall be the earlier of
(i) the tenth calendar day after such Business Day or (ii) the Business Day
prior to the Interest Payment Date on which such accrued interest will be
payable.
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