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MITTS stands for Market Index Target-Term Securities (SM), underwritten by Merrill Lynch. plan.ml.com
S&P 500 MITTS (Amex: MLF, 10 1/8) offer upward participation in the S&P 500 Index, along with the assurance of 100% principal return at maturity on July 1, 2005. If at maturity the index has increased from its Starting Value of 1119.49, the bearer is entitled to receive the principal amount of $10 plus a Supplemental Redemption Amount to be determined as follows:
$10 x (Adjusted Ending Value - 1119.49) divided by 1119.49.
biz.yahoo.com
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In addition, the AMEX also has the Russell 2000 smallcap index MITTS (Amex: RUM, 9 5/16). For security specifications, see
amex.com
The American Stock Exchange also trades Major 11 International MITTS (EEM), Major 8 European Index MITTS (MEM), Healthcare/Biotechnology Portfolio Index MITTS (MLH), and Top Ten Yield MITTS (MTT). Edit RUM link above to get info.
Philip
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