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Biotech / Medical
Biotech HOLDRs (AMEX: BBH)
An SI Board Since November 1999
Posts SubjectMarks Bans Symbol
98 11 0 BBH
Emcee:  Xenogenetic Type:  Unmoderated
Merrill Lynch Introduces Single Security Representing 20 Biotech Stocks

Monday, November 22, 1999 05:59 PM

NEW YORK, Nov. 22 /PRNewswire/ -- Merrill Lynch, Pierce, Fenner & Smith Incorporated today announced the launch of Biotech HOLDRs(SM), a new security representing undivided beneficial ownership interest in the common stock of 20 specified companies involved in various segments of the biotechnology industry.

Today, 4.5 million Biotech HOLDRs were priced for initial sale to the public at an aggregate offering price in excess of $490 million. Trading of Biotech HOLDRs begins on Tuesday, November 23, 1999, on the American Stock Exchange under the symbol "BBH." Newly issued Biotech HOLDRs will be available on a continuous basis.

"Investors have embraced the HOLDRs investment platform," said Steve Bodurtha, First Vice President and Senior Director of Merrill Lynch's Customized Investments Group. "With Biotech HOLDRs, investors now have a flexible, cost-effective way to diversify their investment in the biotechnology industry at costs that may be lower than investing through other vehicles."

Biotech HOLDRs are Merrill Lynch's second offering from their new, innovative HOLDRs(SM) investment platform. Two months ago Merrill Lynch introduced Internet HOLDRs (Amex: HHH, news, msgs), the first registered U.S. security to represent investors' undivided ownership rights in other U.S. securities. Approximately 3.7 million Internet HOLDRs were issued by Merrill Lynch on September 22, 1999 at a price of $108 1/4. Since its launch just two months ago, over 2.8 million additional Internet HOLDRs shares have been issued to investors. Today, more than 6.5 million Internet HOLDRs are outstanding and represent an aggregate market value in excess of $935 million. Like Internet HOLDRs, Biotech HOLDRs can only be traded, issued and cancelled in round-lots of 100 shares.

Biotech HOLDRs are depositary receipts issued by the Biotech HOLDRs Trust, for which The Bank of New York acts as Trustee. Unlike a mutual fund or UIT, Biotech HOLDRs represent an investor's undivided beneficial ownership interest in 20 of the largest and most liquid companies in the biotechnology industry measured by market capitalization and trading volume.

In July of 1998 Merrill Lynch launched its first HOLDRs product, Telebras HOLDRs (NYSE: TBH, news, msgs), with an initial market capitalization of more than $4.68 billion. Telebras HOLDRs represent investors' interests in 12 separate American Depositary Receipts. Since its inception, TBH has traded on average almost 1.7 million shares per day.

The specific share amounts underlying each round-lot of 100 Biotech HOLDRs are set forth in the chart below. The share amounts set forth below should not change except for changes due to corporate events such as stock splits or reverse splits on the underlying securities or reconstitution events.

Company Symbol Share

Amounts
Amgen Inc. AMGN 46
Genentech, Inc. DNA 22
Biogen, Inc. BGEN 13
Immunex Corporation IMNX 14
PE Corp-PE Biosystems Group PEB 9
MedImmune, Inc. MEDI 5
Chiron Corporation CHIR 16
Genzyme Corporation GENZ 7
Gilead Sciences, Inc. GILD 4
Sepracor Inc. SEPR 3
IDEC Pharmaceuticals Corporation IDPH 2
QLT PhotoTherapeutics Inc. QLTI 5
Millennium Pharmaceuticals, Inc. MLNM 3
BioChem Pharma Inc. BCHE 9
Affymetrix, Inc. AFFX 2
Human Genome Sciences, Inc. HGSI 2
ICOS Corporation ICOS 4
Enzon, Inc. ENZN 3
Celera Genomics CRA 2
Alkermes, Inc. ALKS 2

An investor may obtain Biotech HOLDRs by purchasing them on the American Stock Exchange or by depositing with the Trustee the required share amounts of the 20 underlying biotechnology stocks and paying an issuance fee of up to $0.10 per HOLDR to the Trustee. Investors also may cancel their HOLDRs by presenting them to the Trustee and paying a cancellation fee of up to $0.10 per HOLDR to the Trustee in return for delivery to the investor of the 20 biotechnology stocks represented by the HOLDRs. The issuance and cancellation of HOLDRs is not a taxable event, and this mechanism will provide investors with investing and trading flexibility.
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98Interestingly, the BBNSI Index has beaten the BBH & PPH for the last three tblackmerlin-4/12/2001
97Finally--a Merrill site for HOLDRS (including BBH) !!!! holdrs.comCurtis E. Bemis-7/25/2000
96 Thank you for the re-post of info about the HOLDRS. Of course, the mother-lodeCurtis E. Bemis-6/21/2000
95 Everything You Ever Wanted to Know About HOLDRs Information on Merrill's hXenogenetic-6/21/2000
94 Notice that we have 4 lil green heads poking out from the Red Sea of BBH from 3Curtis E. Bemis-6/19/2000
93 SSB reiterates buy with 200 target Genentech DNA Salomon Smth Brny Buy $200 bob zagorin-5/24/2000
92 Anti-VEGF Monoclonal Antibody With Chemotherapy Demonstrates Preliminary Positibob zagorin-5/21/2000
91 Posted at 12:43 a.m. PDT Thursday, May 11, 2000 Biotech patent violation lawsbob zagorin-5/11/2000
90 Amgen AMGN Deutsche Bc Alex. Br Strong Buy $81 bob zagorin-4/26/2000
89 anyone still alive out there? here's good news for AMGN: Federal Judge Rulbob zagorin-4/26/2000
88 Don't forget to split MLNM, effective 4/19 Millennium Reports First QuarteCurtis E. Bemis-4/18/2000
87 Biotech stocks rebound after month-long rout By William Borden NEW YORK (Reutbob zagorin-4/18/2000
86 Human Genome Sciences Added To American Stock Exchange's Biotechnology Indebob zagorin-4/18/2000
85 nti-Cancer Drug Discovery & Development Conference to Feature New Targets, bob zagorin-4/14/2000
84 InformedInvestors.com Streaming Today's Oscar Gruss Investor Conference on bob zagorin-4/14/2000
83 Several initiations on BBH holdings, today-- Amgen (AMGN: news, msgs) Dain RauCurtis E. Bemis-4/14/2000
82 Robbie Stephens this morning: Raising Estimates Genentech Inc. (NYSE:DNA) F200bob zagorin-4/13/2000
81 I wathced BBH, DNA, AMGN et. al. closely all day today and they made a valiant bob zagorin-4/12/2000
80 Richard England, mgr. of Putnam Health Science fund - one of the biggest, was obob zagorin-4/12/2000
79 DNA now 140 3/4 up over $20 from where you could have bought it earlier in the bob zagorin-4/12/2000
78 BioChem Pharma, BCHE, featured on CNBC right now. It just popped a point.Curtis E. Bemis-4/12/2000
77 Upgrade: Genentech DNA CIBC Wrld Mkts Hold Buy Still predicting up day todabob zagorin-4/12/2000
76 12.30 pm ET down 2 5/8 at 133 7/8 up 13 7/8 off low of 120.bob zagorin-4/12/2000
75 I see DNA down 5 and accounting for 1.10 point down on BBH at 11:13AM ETCurtis E. Bemis-4/12/2000
74 Genentech Reports 21 Percent Increase in Product Sales for First Quarter; 27 Pebob zagorin-4/12/2000
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