Merrill Lynch Canada Finance Co., an indirect wholly-owned Canadian subsidiary of Merrill Lynch & Co., Inc., issued under its medium term note program $17.5 million aggregate principal amount of its Merrill Lynch Commodity Step-up Securities, Series 1.

The Securities are senior notes of the company, unconditionally guaranteed by Merrill Lynch & Co., Inc. and are rated AA(low), AA-, Aa3 and AA– by Dominion Bond Rating Service Ltd., Standard & Poor’s Rating Services (a division of the McGraw-Hill Cos., Inc.), Moody’s Investors Service, Inc. and Fitch Ratings Ltd., respectively.