Document:

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                                                                    Exhibit 4(i)

                           MERRILL LYNCH & CO., INC.

                        STEP-UP NOTE DUE APRIL 30, 2002

     This Note is one of a duly authorized issue of Securities of the Company
issued and to be issued under an Indenture dated as of April 1, 1983, as amended
and restated (herein called the "Indenture") between the Company and
Manufacturers Hanover Trust Company, Trustee (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 Securities, and the terms upon which the Securities are and are to be
authenticated and delivered.

     This Note shall be redeemable at the option of the Company on or after
May 6, 1997, as a whole or from time to time in part in increments of $1,000
(provided that any remaining principal amount shall be an authorized
denomination), at a Redemption Price of 100% of the principal amount hereof to
be redeemed plus accrued interest thereon to but excluding the Redemption Date.
Notice of redemption of the Notes shall be mailed not less than 30 or more than
60 days prior to the redemption date to each Holder of Notes to be redeemed.

     If an Event of Default (as defined in the Indenture) with respect to the
Notes shall occur and be continuing, the principal of all the Notes may be
declared due and payable in the manner and with the effect provided in the
Indenture.

     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 66 2/3% in aggregate principal amount of the
Securities at the time Outstanding, as defined in the Indenture, of each series
affected thereby. The Indenture also contains provisions permitting the 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, to waive 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 Note shall be conclusive and
binding upon such Holder and upon all future Holders of this Note and any
Note issued upon the registration of transfer hereof or in exchange hereof or
in lieu hereof whether or not notation of such consent or waiver is made upon
this Note.

     No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Company which is
absolute and unconditional to pay the principal of and interest on this Note at
the time, place, rate and in the coin or currency herein prescribed.

     As provided in the Indenture and subject to ____________ therein set forth,
the transfer of this Note may be registered on the Security Register of the
Company upon surrender of this Note for registration or 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 Notes of
authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee for transferees.

     The Notes are issuable only in registered form without coupons in
denominations of $1,000 and integral multiples thereof. As provided in the
Indenture and subject to certain limitations therein set forth, the Notes are
exchangeable for a like aggregate principal amount of Notes as requested by the
Holder surrendering the same.

     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.

     Prior to due presentation of this 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 Note is registered as the owner hereof for all
purposes whether or not this Note be overdue and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

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     Prior to due presentment of this Note for registration of transfer the
Company, the Trustee and any agents of the Company or the Trustee may treat the
Person in whose name this Note is registered as the owner hereof for all
purposes, whether or not this Note be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

     All terms used in this Note which are defined in the Indenture shall have
the meanings assigned to them in the Indenture.

                               -----------------

     The following abbreviations, when used in the inscription on the face of
this instrument, shall be construed as though they were written out in full
according to applicable laws or regulations.

TEN COM           - as tenants in common
TEN ENT           - as tenants by the entireties
JT TEN            - as joint tenants with right of survivorship and not as
                    tenants in common

UNIF GIFT MIN ACT - ________  Custodian________
                     (Cust)            (Minor)

                    under Uniform Gifts to Minors Act ______________________
                                                             (State)

     Additional abbreviations may also be used though not in the above list.

                          ---------------------------

     FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
    IDENTIFYING NUMBER OF ASSIGNEE
----------------------------------------

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                   PLEASE PRINT NAME AND ADDRESS OF ASSIGNEE

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the within Note, and all rights thereunder, hereby irrevocably constituting and
appointing

                                                               attorney-in-fact
--------------------------------------------------------------
to transfer said Note on the books of the Company, with full power of
substitution in the premises.

Dated:
------                                            ------------------------------

        NOTICE:  The signature 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 whatever.<PAGE>

                                                                    Exhibit 4(j)

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 NOTES IN CERTIFICATED
FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITRAY TRUST
COMPANY (THE "SECURITIES DEPOSITORY") TO A NOMINEE OF THE SECURITIES DEPOSITORY
OR BY THE SECURITIES DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR
A NOMINEE OF SUCH SUCCESSOR DPEOSITORY.  UNLESS THIS NOTE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE SECURITIES DEPOSITORY, TO THE COMPANY OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS
REGISTERED ON THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF THE SECURITIES DEPOSITORY (AND ANY PAYMENT IS MADE
TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE SECURIITES 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.

No. R-
CUSIP 590188 EJ3                                                      $

                            Merrill Lynch & Co., Inc.

                         7 3/8% Note due August 17, 2002

     Merrill Lynch & Co., Inc. a Delaware corporation (hereinafter called 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 registered assigns, the principal sum of       on August 17, 2002 and to pay
interest thereon from August 17, 1992, or from the most recent date in respect
of which interest has been paid or duly provided for, semiannually on February
17 and August 17 in each year, commencing February 17, 1993, at the rate of 7
3/8% per annum, until the principal hereof is paid or duly made available for
payment. The interest so payable and punctually paid or duly provided for on any
Interest Payment Date will, as provided in such Indenture, be paid to the Person
in whose name this Note (or one or more Predecessor Securities) is registered at
the close of business on the Regular Record Date for such interest, which is
payable, but is not punctually paid or duly provided for on any Interest Payment
Date, shall forthwith cease to be payable to the registered Holder on such
Regular Record Date, and may be paid to the Person in whose name this Note (or
one or more Predecessor Securities) is registered at the close of business on
the Special Record Date foe the payment of such Defaulted Interest to be fixed
by the Trustee, notice whereof shall be given to the Holder of this Note not
less than 10 days prior to such Special Record Date, or may be paid at any time
in any other lawful manner, as more fully provided in such Indenture.

     Payment of the Principal of and the Interest on this Note will 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; provided, however, that payment of interest may be
made at the option of the Company by check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register.

     This Note is one of the series of 7 3/8% Notes due August 17, 2002 the
("Notes").  Reference is hereby made to the further provisions of this Note set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

     Unless the certificate of authentication hereon has been executed by
Chemical Bank, the Trustee under the Indenture, or its successor thereunder, by
manual signature of one of its authorized officers, this Note shall not be
entitled to any benefits under the Indenture, or be valid or obligatory for any
purpose.

<PAGE>

     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             By: _______________________
to in the within-mentioned Indenture.                Chairman of the Board

Chemical Bank, as Trustee          Seal
                                               Attest: ___________________
                                                            Secretary

              By: ____________________
                   Authorized Officer

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