Obligation Merck KGaA 0% ( US58933NAW92 ) en USD

Merck KGaA

97.529 % ▼

Etas-Unis

US58933NAW92 ( en USD )

0%

22/08/2042

Prospectus brochure de l'obligation Merck & Co US58933NAW92 en USD 0%, échéance 22/08/2042

1 000 USD

107 482 000 USD

58933NAW9

A+ ( Qualité moyenne supérieure )

Aa3 ( Haute qualité )

Merck & Co., Inc. est une importante entreprise pharmaceutique et biotechnologique mondiale spécialisée dans la découverte, le développement et la commercialisation de médicaments et de vaccins innovants.

L'obligation Merck & Co. (US58933NAW92, CUSIP 58933NAW9), émise aux États-Unis pour un montant total de 107 482 000 USD, avec un prix actuel de marché de 98,98% de sa valeur nominale, offre un taux d'intérêt de 0%, une maturité fixée au 22/08/2042, une taille minimale d'achat de 1000 USD et une fréquence de paiement semestrielle, bénéficiant d'une notation A+ de Standard & Poor's et A1 de Moody's.

Pricing Supplement No. 2
424B3 1 sc0250.htm PRICINTG SUPPLEMENT NO. 2
Pricing Supplement No. 2
Dated August 20, 2002
(to Prospectus dated November 28,
2001 and Prospectus Supplement
dated December 5, 2001)
Merck & Co., Inc.
Medium-Term Notes, Series E
Floating Rate Notes
Underwriters and

Principal Amounts:
UBS Warburg LLC
$38,934,000
Salomon Smith Barney Inc.
$15,125,000
Merrill Lynch, Pierce,

Fenner & Smith Incorporated
$12,000,000

Total
$66,059,000
Trade Date:
August 20, 2002
Settlement Date

(Original Issue Date):
August 23, 2002
Stated Maturity:
August 22, 2042
Interest Rate Basis:
3-month LIBOR
Spread:
Minus 45 basis points
Initial Interest Rate:
3-month LIBOR, determined as if the original issue date were an interest
reset date, minus the spread
Interest Reset Dates:
Quarterly, on the 22nd day of each February, May, August and
November, commencing November 22, 2002
Interest Payment Dates:
February 22, May 22, August 22 and November 22 of each year,
commencing November 22, 2002
Issue Price:
100.00% of the principal amount
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Pricing Supplement No. 2
Underwriter's Discount:
1.00% of the principal amount
Net Proceeds to Merck:
99.00% of the principal amount
Calculation Agent:
U.S. Bank Trust National Association
CUSIP:
58933NAW9
Optional

Repayment Dates:
The notes will be repayable at the option of the holder on at least 30 days
notice on the following optional repayment dates and at the following
repayment prices:

Optional Repayment Date
Repayment Price

August 22, 2003
98.00%

August 22, 2004
98.00%

August 22, 2005
98.00%

August 22, 2006
98.00%

August 22, 2007
98.00%

August 22, 2008
99.00%

August 22, 2009
99.00%

August 22, 2010
99.00%

August 22, 2011
99.00%

August 22, 2012
99.00%
August 22, 2013 and on each third

anniversary thereafter to maturity
100.00%
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Pricing Supplement No. 2
Optional Redemption:
The notes may be redeemed at any time, at the option of Merck, in whole
or in part, in amounts of $1,000 or any multiple of $1,000, at the
following redemption prices, if redeemed during the following 12-month
periods:
Redemption Price

Redemption Period

August 22, 2032 through August 21, 2033
105.00%

August 22, 2033 through August 21, 2034
104.50%

August 22, 2034 through August 21, 2035
104.00%

August 22, 2035 through August 21, 2036
103.50%

August 22, 2036 through August 21, 2037
103.00%

August 22, 2037 through August 21, 2038
102.50%

August 22, 2038 through August 21, 2039
102.00%

August 22, 2039 through August 21, 2040
101.50%

August 22, 2040 through August 21, 2041
101.00%

August 22, 2041 through August 21, 2042
100.50%
Notes Used as Qualified Replacement Property:
Prospective investors seeking to treat the notes as "qualified replacement property" for purposes of Section
1042 of the Internal Revenue Code of 1986, as amended (the "Code"), should be aware that Section 1042
requires the issuer to meet certain requirements in order for the notes to constitute qualified replacement
property. In general, qualified replacement property is a security issued by a domestic "operating
corporation" that did not, for the taxable year preceding the taxable year in which such security was
purchased, have "passive investment income" in excess of 25 percent of the gross receipts of such
corporation for such preceding taxable year (the "Passive Income Test"). A corporation will be considered
an "operating corporation" if at the time the securities are purchased or before the end of the replacement
period, as defined in Section 1042 of the Code, more than 50 percent of its assets are used in the active
conduct of a trade or business. For these purposes, where the issuing corporation is in control of one or
more corporations or such issuing corporation is controlled by one or more other corporations, all such
corporations are treated as one corporation (the "Affiliated Group") for the purposes of computing the
amount of passive investment income for purposes of Section 1042. Merck believes that it is an "operating
corporation" and that less than 25 percent of its Affiliated Group's gross receipts is passive investment
income for the taxable year ending December 31, 2001. In making this determination, Merck has made
certain assumptions and used procedures which it believes are reasonable. However, the calculation and
characterization of certain types of income (as active or passive investment income) in certain of the
Affiliated Group's finance and insurance companies is not entirely clear as there are no Treasury
regulations or rulings promulgated by the Internal Revenue Service (the "IRS") that explain the calculation
and characterization of such income in circumstances similar to those of Merck's Affiliated Group. Even if
such categories of income were treated as passive investment income, Merck believes that the Affiliated
Group's passive investment income did not exceed more than 25 percent of the Affiliated Group's gross
receipts for the taxable year ending December 31, 2001. No assurance can be given as to whether Merck
will continue to meet the Passive Income Test. It is, in addition, possible that the IRS may disagree with
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Pricing Supplement No. 2
the manner in which Merck has calculated the Affiliated Group's gross receipts (including the
characterization thereof) and passive investment income and the conclusions reached herein. Investors that
treat the notes as "qualified replacement property" are subject to special rules regarding their basis and
holding period in the notes. Investors should consult their own tax advisors about the operation of the rules
relating to qualified replacement property in their particular circumstances.
UBS WARBURG
SALOMON SMITH BARNEY
MERRILL LYNCH & CO.
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Document Outline

Local Disk
- #1">Pricing Supplement No. 2