Form of MTN Series C Strategic Return Notes



 EXHIBIT (4)(tt) 
  
 THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE THEREOF. UNLESS AND
UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY (THE “DEPOSITORY”) TO A NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY
SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS GLOBAL NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  

					
	 REGISTERED No.: R-
	 	CUSIP No.:	 	PRINCIPAL AMOUNT:    $

  
 MERRILL LYNCH &
CO., INC. 
 Medium-Term Notes, Series C 
 Strategic Return Notes® 
 (the “Notes”) 
  

					
	 INDEX:
	 	INDEX PUBLISHER:	 	ORIGINAL ISSUE DATE:
			
	 STATED MATURITY:
	 	STARTING VALUE:	 	 INDEX ADJUSTMENT FACTOR:    %
 (per
annum) applied daily

			
	 CALCULATION AMOUNT:
	 	EXCHANGE MONTH:	 	DEFAULT RATE: %
	 $
	 	 	 	 
			
	 CALCULATION AGENT:
 Merrill Lynch, Pierce,
 Fenner & Smith Incorporated
 (unless otherwise specified)
	 	 DENOMINATIONS:
 Integral multiples of $10
 (unless otherwise specified)
	 	 SPECIFIED CURRENCY:
 United States dollar
 (unless otherwise specified)

			
	 OTHER PROVISIONS:
	 	 	 	 








 Merrill Lynch & Co., Inc., a Delaware corporation (hereinafter referred to as the
“Company”, which term includes any successor corporation under the Indenture herein referred to), for value received, hereby promises to pay to CEDE & CO., or its registered assigns, the Redemption Amount (as defined below) at the
Stated Maturity or the Exchange Amount (as defined below) on an Exchange Date (as defined below). 
  
 Payment or delivery of the Redemption Amount or Exchange Amount and any interest on any overdue amount thereof with respect to this Global Note shall be
made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and
private debts. 
  
 Payment at Stated Maturity 
  
 At the Stated Maturity, a Holder shall receive a cash payment equal to the
Redemption Amount. The “Redemption Amount” with respect to this Global Note shall be determined by the Calculation Agent and shall equal: 
  

							
	Calculation Amount  x 	 	(	 	Ending Value

	 	)
	 	 	Starting Value	 

  
 For the purpose of
determining the Redemption Amount, the “Ending Value” shall be determined by the Calculation Agent and shall equal the average of the closing levels of the Index, each as reduced by the Index Adjustment Factor, determined on each of the
first five Calculation Days (as defined below) during the Calculation Period (as defined below). If there are fewer than five Calculation Days during the Calculation Period, then the Ending Value shall equal the average of the adjusted closing
levels of the Index on those Calculation Days. If there is only one Calculation Day during the Calculation Period, then the Ending Value shall equal the adjusted closing level of the Index on that Calculation Day. If no Calculation Days occur during
the Calculation Period, then the Ending Value shall equal the adjusted closing level of the Index determined on the last scheduled Index Business Day (as defined below) in the Calculation Period, regardless of the occurrence of a Market Disruption
Event (as defined below), on that scheduled Index Business Day. 
  
 The “Calculation Period” means the period from and including the seventh scheduled Index Business Day before the Stated Maturity to and including the second scheduled Index Business Day before the Stated Maturity. 
  
 A “Calculation Day” means any Index Business Day during the
Calculation Period on which a Market Disruption Event has not occurred. 
  
 An “Index Business Day” means any day on which the New York Stock Exchange (the “NYSE”), the American Stock Exchange (the “AMEX”) and The Nasdaq Stock Market (the “Nasdaq”) are open for trading, the
Index or any Successor Index (as defined below) is calculated and published. 
  
 All determinations made by the Calculation Agent shall be at the sole discretion of the Calculation Agent and, absent a determination of a manifest error, shall be conclusive for all purposes and binding on the
Company and the Holders and beneficial owners of this Global Note. 
  
 Exchange
of the Notes Prior to the Stated Maturity 
  
 This Global
Note may be exchanged in whole or in part at the option of a Holder in whole Denominations for a cash payment equal to the Exchange Amount during any Business Day (as defined below) that occurs during an Exchange Notice Period by delivery of written
notice from the Holder to the Trustee (as defined below) (in the form of Annex A attached hereto). To the extent that this Global Note is exchanged in 

  

 2 








 
part, the Principal Amount shall be reduced by the amount so exchanged and the Principal Amount then outstanding shall be as maintained in the records of the
Trustee. 
  
 An “Exchange Notice Period” means the
period from and including the first calendar day of the applicable Exchange Month to and including 12:00 noon in The City of New York on the fifteenth calendar day during the applicable Exchange Month. If the fifteenth calendar day of the applicable
Exchange Month is not a Business Day, then the Exchange Notice Period shall be extended to 12:00 noon in The City of New York on the next succeeding Business Day. 
  
 The “Exchange Amount” shall be equal to the Redemption Amount, calculated as if the Exchange Date were the Stated
Maturity; provided, however, that the Ending Value shall be equal to the closing level of the Index, as reduced by the Index Adjustment Factor, on the Exchange Date. 
  
 An “Exchange Date” shall be the third Index Business Day following the end of the applicable Exchange Notice
Period. If a Market Disruption Event occurs on the third Index Business Day following an Exchange Notice Period, the Exchange Date for that year shall be the next succeeding Index Business Day on which a Market Disruption Event does not occur. The
Exchange Amount shall be paid three Banking Business Days (as defined below) after the Exchange Date. 
  
 A “Banking Business Day” means any day other than a Saturday or Sunday that is not a day on which banking institutions in The City of New York
are authorized or required by law, regulation or executive order to close. 
  
 A “Business Day” means a day on which the NYSE, the AMEX and the Nasdaq are open for trading. 
  
 Adjustments to the Index; Market Disruption Events 
  
 If at any time the Index Publisher makes a material change in the formula for or the method of calculating the Index or in any other way materially
modifies the Index so that the Index does not, in the opinion of the Calculation Agent, fairly represent the level of the Index had those changes or modifications not been made, then, from and after that time, the Calculation Agent shall, at the
close of business in New York, New York, on each date that the closing level of the Index is to be calculated, make any adjustments as, in the good faith judgment of the Calculation Agent, may be necessary in order to arrive at a calculation of a
level of a stock index comparable to the Index as if those changes or modifications had not been made, and calculate the closing level with reference to the Index, as so adjusted.  
  
 “Market Disruption Event” means either of the following events as determined by the Calculation Agent: 

 

	 	(A)	the suspension of or material limitation on trading for more than two hours of trading, or during the one-half hour period preceding the close of trading, on the applicable exchange
(without taking into account any extended or after-hours trading session), in 20% or more of the stocks which then comprise the Index or any Successor Index; or 

  

	 	(B)	the suspension of or material limitation on trading for more than two hours of trading, or during the one-half hour period preceding the close of trading, on the applicable exchange
(without taking into account any extended or after-hours trading session), whether by reason of movements in price otherwise exceeding levels permitted by the applicable exchange or otherwise, in option contracts or futures contracts related to the
Index, or any Successor Index, which are traded on any major United States exchange. 

  

 3 








 For the purpose of determining whether a Market Disruption Event has occurred: 
  

	 	(1)	a limitation on the hours in a trading day and/or number of days of trading shall not constitute a Market Disruption Event if it results from an announced change in the regular
business hours of the applicable exchange; 

  

	 	(2)	a suspension in trading in a futures or option contract on the Index, or any Successor Index, by a major securities market by reason of (a) a price change violating limits set by
that securities market, (b) an imbalance of orders relating to those contracts or (c) a disparity in bid and ask quotes relating to those contracts shall constitute a suspension of or material limitation on trading in futures or option contracts
related to that index; 

  

	 	(3)	a suspension of or material limitation on trading on the applicable exchange shall not include any time when that exchange is closed for trading under ordinary circumstances; and


  

	 	(4)	for the purpose of clause (A) above, any limitations on trading during significant market fluctuations under NYSE Rule 80A, or any applicable rule or regulation enacted or
promulgated by the NYSE or any other self regulatory organization or the Securities and Exchange Commission of similar scope as determined by the Calculation Agent, shall be considered “material”. 

  
 Discontinuance of the Index 
  
 If the Index Publisher discontinues publication of the Index and the Index
Publisher or another entity publishes a successor or substitute index that the Calculation Agent determines, in its sole discretion, to be comparable to the Index (a “Successor Index”), then, upon the Calculation Agent’s notification
of that determination to the Trustee (as defined below) and the Company, the Calculation Agent shall substitute such Successor Index as calculated by the Index Publisher or any other entity for the Index and calculate the Ending Value as described
above under “Payment at Stated Maturity”. Upon any selection by the Calculation Agent of a Successor Index, the Company shall cause notice to be given to Holders of this Global Note. 
  
 In the event that the Index Publisher discontinues publication of the Index
and: 
  

	 	Ÿ	 	the Calculation Agent does not select a Successor Index; or 

  

	 	Ÿ	 	the Successor Index is not published on any of the Calculation Days, 

  
 the Calculation Agent shall compute a substitute level for the Index in accordance with the procedures last used to calculate the Index before any discontinuance. If a
Successor Index is selected or the Calculation Agent calculates a level as a substitute for the Index as described below, the Successor Index or level shall be used as a substitute for the Index for all purposes, including the purpose of determining
whether a Market Disruption Event exists. 
  
 If the Index
Publisher discontinues publication of the Index before the Calculation Period and the Calculation Agent determines that no Successor Index is available at that time, then on each Business Day until the earlier to occur of: 
  

	 	Ÿ	 	the determination of the Ending Value; or 

  

	 	Ÿ	 	a determination by the Calculation Agent that a Successor Index is available, 

  

the Calculation Agent shall determine the value that would be used in computing the Redemption Amount as described in the preceding paragraph as if that day were a
Calculation Day. The Calculation Agent shall cause notice of each value to be published not less often than once each month in The Wall Street Journal or another newspaper of general circulation and arrange for information with respect to
these values to be made available by telephone. 
  
  

 4 








 General 
  
 All percentages resulting from any calculation on the Notes shall be rounded to the nearest one hundred-thousandth of a percentage point, with five
one-millionths of a percentage point rounded upwards. For example, 9.876545% (or .09876545) would be rounded to 9.87655% (or .0987655). All dollar amounts used in or resulting from any calculation shall be rounded to the nearest cent with one-half
cent being rounded upward. 
  
 This Global Note is one of a duly
authorized issue of the Company’s Medium-Term Notes, Series C, Due Nine Months or More from Date of Issue and designated as Strategic Return Notes® which are due at the Stated Maturity. The Notes are issued and to be issued under an indenture dated as of April 1, 1983, as amended and
restated (the “Indenture”), between the Company and JPMorgan Chase Bank, N.A. (herein called the “Trustee”, which term includes any successor Trustee under the Indenture), to which Indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights thereunder of the Company, the Trustee and the Holders of the Notes and the terms upon which the Notes are to be authenticated and delivered. 
  
 Unless the certificate of authentication hereon has been executed by or on
behalf of the Trustee with respect to the Notes under the Indenture, or its successor thereunder, by the manual signature of one of its authorized officers, this Global Note shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose. 
  
 The Notes are issuable only in
registered form without coupons in the Denominations specified above. As provided in the Indenture and subject to certain limitations therein set forth, this Global Note is exchangeable for certificates representing the Notes of like tenor and of an
equal Principal Amount as requested by the Holder surrendering the same. If (x) the Depository is at any time unwilling or unable to continue as depository and a successor depository is not appointed by the Company within 60 days, (y) the Company
executes and delivers to the Trustee a Company Order to the effect that this Global Note shall be exchangeable or (z) an Event of Default has occurred and is continuing with respect to this Global Note, this Global Note shall be exchangeable for
certificates representing the Notes in definitive form of like tenor and of an equal Principal Amount, in authorized denominations. Such definitive Notes shall be registered in such name or names as the Depository shall instruct the Trustee. If
definitive Notes are so delivered, the Company may make such changes to the form of this Global Note as are necessary or appropriate to allow for the issuance of such definitive Notes. 
  
 In case an Event of Default with respect to this Global Note shall have occurred and be continuing, the amount payable to a
Holder of this Global Note upon any acceleration permitted by the Notes, with respect to the Principal Amount of this Global Note, shall be equal to the Redemption Amount, calculated as though the date of acceleration were the Stated Maturity.

  
 In case of default in payment of this Global Note, whether at
the Stated Maturity or upon exchange or acceleration, from and after such date this Global Note shall bear interest, payable upon demand of the Holders thereof, at the Default Rate, to the extent that such payment of interest shall be legally
enforceable on the unpaid amount due and payable on such date in accordance with the terms of this Global Note to the date payment of such amount has been made or duly provided for. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights
and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than 66 2/3% in aggregate
principal amount of the Securities at the time Outstanding of each series affected thereby. Holders of specified percentages in aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all
Securities of each series, are permitted to waive 

  

 5 








 
compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Global Note shall be conclusive and binding upon such Holder and upon all future Holders of this Global Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof
whether or not notation of such consent or waiver is made upon this Global Note. 
  
 No reference herein to the Indenture and no provision of this Global Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the Redemption Amount or
Exchange Amount hereof and interest on this Global Note, if any, at the time, place and rate, and in the coin or currency, herein prescribed. 
  
 As provided in the Indenture and subject to certain limitations set forth therein and on the face hereof, the transfer of this Global Note may be
registered on the Security Register of the Company, upon surrender of this Global Note for registration of transfer at the office or agency of the Company in the Borough of Manhattan, The City of New York, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new certificates representing the Notes of authorized denominations, of
like tenor and for the same Principal Amount shall be issued to the designated transferee or transferees. 
  
 Prior to due presentment of this Global Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat
the Person in whose name this Global Note is registered as the owner hereof for all purposes, whether or not this Global Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

  
 No service charge shall be made for any such registration of
transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
  
 The Company and each Holder by acceptance hereof hereby agree (in the absence of an administrative determination or judicial ruling to the contrary) to
characterize and treat this Global Note for all tax purposes as a pre-paid cash-settled forward contract linked to the level of the Index. 
  
 The Indenture and this Global Note shall be governed by and construed in accordance with the laws of the State of New York. 
  
 All terms used in this Global Note which are defined in the Indenture but not
in this Global Note shall have the meanings assigned to them in the Indenture. 
  
  

 6 








 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

  
 Dated: 
  
  

									
			
	CERTIFICATE OF AUTHENTICATION	 	 	 	Merrill Lynch & Co., Inc.
	 This is one of the Securities of the series
 designated therein referred to in the
 within-mentioned Indenture.
	 	[Copy of Seal]	 	 
					
	 	 	 	 	 	 	 	 	 
				
	JPMorgan Chase Bank, N.A., as Trustee	 	 	 	By:	 	 
	 	 	 	 	 	 	 	 	Assistant Treasurer
					
	By:	 	 	 	 	 	Attest: 	 	 
	 	 	Authorized Officer	 	 	 	 	 	Secretary

  
  
  









 ANNEX A 
  
 FORM OF 
 OFFICIAL NOTICE OF EXERCISE

  
 MERRILL LYNCH & CO., INC. 
 Medium-Term Notes, Series C 
 Strategic Return Notes® 
 Linked to the [INDEX] due [STATED MATURITY] 
  
 Dated: 

 
 Merrill Lynch & Co., Inc. 
 95 Green St. 
 8th Floor 
 Jersey City, New Jersey 07302 
 Fax No.: (201) 671-3672 
 (Attn: Treasury) 
  
 Merrill Lynch, Pierce, Fenner & Smith 
 Incorporated, 
 as Calculation Agent 
 4 World Financial Center 
 25th Floor 
 New York, New York 10080 
 Fax No.: (212) 449-1897 
  
 JPMorgan Chase Bank, N.A. 
 4 New York Plaza 
 15th Floor 
 New York, New York 10004 
 Fax No.: (212) 623-6274 
 (Attn: Institutional Trust Services) 
  
 Dear Sir or Madam: 
  
 The undersigned holder of the Medium-Term Notes, Series C, Strategic Return Notes® Linked to the [INDEX] which are due [STATED MATURITY] of Merrill Lynch & Co., Inc. (the “Notes”) hereby irrevocably elects to exercise with respect to the
$              principal amount of Notes indicated below, as of the date hereof, provided that such day is within the applicable Exchange Notice Period and subject to the restrictions
as set forth under “Exchange of the Notes Prior to the Maturity Date” as described in the Pricing Supplement dated [DATE] to the 

  









 
Prospectus Supplement and Prospectus dated [DATE]. Capitalized terms not defined herein have the meanings given to such terms in the Pricing Supplement.
Please date and acknowledge receipt of this notice in the place provided below on the date of receipt, and fax a copy to the fax number indicated, whereupon the Exchange Amount shall be delivered in cash, in accordance with the terms of the Notes
described in the Pricing Supplement. 
  
 Very truly yours, 
  

			
	  


	[Name of Holder]
		
	By:	 	  


	 	 	[Title]
	 	 	  


	 	 	[Fax No.]
	
	  


	$                     principal amount of Notes surrendered for exercise of the
right to receive the Exchange Amount

  
 If you want the amount in cash made
out in another person’s name, fill in the form: 
  

			
	  


	(Insert person’s soc. sec. or tax ID no.)
	
	  


	  


	  


	(Print or type person’s name, address and zip code)
		
	Date:	 	  




			
		
	Your Signature:	 	  



  

 2 








 Receipt of the above Official Notice of Holder’s exchange right is hereby acknowledged 
  
 MERRILL LYNCH & CO., INC., 
 as Issuer 
  
 MERRILL LYNCH, PIERCE, FENNER &
SMITH 
 INCORPORATED, 
 as Calculation Agent

  
 By JPMORGAN CHASE BANK, N.A. 
 as Trustee 
  

			
		
	By:	 	  


	Title:	 	 

  
 Date and time of
acknowledgment
                                        
     







 ASSIGNMENT/TRANSFER FORM 
  
 FOR VALUE RECEIVED the undersigned registered Holder hereby sell(s), assign(s) and transfer(s) unto (insert Taxpayer
Identification
No.)                                       
                                        
                                        
                    
  

 (Please print or typewrite name and address including postal zip code of assignee) 
  

 the within Note and all rights thereunder, hereby irrevocably constituting and appointing
                                        
     attorney to transfer said Note on the books of the Company with full power of substitution in the premises. 
  

			
	 Date:                                     
                   
	    	  

 NOTICE:
The signature of the registered Holder to this assignment must correspond with the name as written upon the face of the within instrument in every particular, without alteration or enlargement or any change whatsoever.