6 Year AUD Capital Protected Note with 4 % annual coupon

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Terms and Conditions
This Term Sheet contains indicative terms only. All materials contained herein are for discussion purposes only. Finalised terms and conditions are subject to further discussion and negotiation.
We make no representation and have given you no advice concerning the appropriate accounting treatment or possible tax consequences of this indicative transaction.This communication is
furnished at the request of the recipient for the exclusive purpose of identifying the security or other instrument referred to herein. It is furnished for your private information with the express
understanding, which recipient acknowledges, that it does not constitute an offer of such security or a means by which such security may be offered or sold. Any written offer of such security
may be made only by means of an offering document and any related supplements thereto. The security described herein is not for sale in the U.S. or to U.S. persons and this communication
may not be distributed in the U.S.No Prospectus (as defined in the EU Prospectus Directive 2003/71/EC (“Prospectus Directive”)) will be prepared in connection with the Notes. Accordingly, the
Notes may not be offered to the public in any European Economic Area (“EEA”) member state and any purchaser of the Notes who subsequently sells any of their Notes in any EEA member
state must do so only in accordance with the requirements of the Prospectus Directive as implemented in that member state.]
General Terms:
Issuer: Merrill Lynch & Co, Inc.
Rating: S&P AA-, Moody’s Aa3, Fitch AAType
of Security: Certificate
Security Codes: ISIN: XS0294730139 Valor: 3037091
Subscription Period: 01 April – 15 June 2007
Trade Date: 15 June 2007
Issue Date: 22 June 2007
Final Valuation Date: 14 June 2013
Maturity Date: 24 June 2013
Currency: AUD
Issue size: AUD 13,000,000
Issue Price: 100%
Denomination: AUD 1,000
Cash Settlement at Maturity:
Minimum Redemption: 100%
Cash Settlement
Amount: Denomination x (100% + Max(0%, Participation x Outperformance))
Participation: 100%
Outperformance: Performance Performance MLCX 01 − GSCI
MLCXPerformance:
td
vd
MLCX
MLCX
01
01
GSCIPerformance:
td
vd
GSCI
GSCI
MLCXtd: Official closing level on Trade Date
GSCItd: Official closing level on Trade Date
MLCX: Merrill Lynch Commodity index eXtra Excess Return (Bloomberg: MLCX01ER <Index>)
GSCI: Goldman Sachs Excess Return Commodity Index (Bloomberg: GSCIER <Index>)
Interest paments:
Coupon: 4.00%, paid annually
Interest payment
dates:
23 June 2008, 22 June 2009, 22 June 2010, 22 June 2011, 22 June 2012 , 24 June 2013
Day Count Fraction: 30/360, unadjusted
Business Day
Convention:
Modified Following Business Day Convention
Additional Provisions:
Dealer: Merrill Lynch International
Calculation Agent: Merrill Lynch International
Governing Law: New York Law
&#56256;&#56408; COMMODITY LINKED ISIN: XS0294730139
6 Year AUD Capital Protected Note on the
Outperformance of MLCX01 vs. GSCIER with 100%
Participation and 4% annual Coupon