TRAKRs: Disclosure Documents

Disclosure Document and Disclosure Document Supplements

TRAKRS^SM, or Total Return Asset Contracts^SM, are non-traditional futures contracts designed to provide customers with a cost-effective way to invest in a broad-based index of stocks, bonds, currencies, or other financial instruments.

Rogers International Commodity^SM TRAKRS^SM

Disclosure Document Supplement
Rogers International Commodity^SM TRAKRS^SM are non-traditional futures contracts designed to provide customers with an effective way to gain exposure to commodities. Rogers TRAKRS are designed to track the performance of a TRAKRS index, which in turn, tracks the Rogers International Commodity Index^® (the "RICI"). The RICI^SM is a composite, U.S. dollar-based, total return index which represents the value of a basket of commodities consumed in the global economy, ranging from agricultural to energy to metal products. The value of this basket is tracked via futures contracts on 35 different exchange-traded physical commodities, quoted in four currencies,listed on ten exchanges in five countries.

BXY TRAKRS^SM

Disclosure Document Supplement
BXY SM TRAKRS SM are non-traditional futures contracts designed to provide customers with an effective way to gain exposure to a “buy-write” strategy on the S&P 500 Index. BXY TRAKRS are designed to track the performance of the BXY TRAKRS IndexSM (the “Index”), which in turn, tracks the CBOE S&P 500 2% OTM BuyWrite Index SM (the “BXY Index”), a total return index established by Chicago Board Options Exchange, Incorporated (“CBOE”). The BXY Index simulates a “covered call” strategy based on (1) a purchase of an S&P 500 stock index portfolio, and (2) a periodic sale of the near-term, out-of-the-money S&P 500 Index “covered” call option, generally on the third Friday of each month. Ordinary cash dividends paid on the stocks underlying the S&P 500 Index and the option premium received from writing call options on the S&P 500 Index are effectively reinvested into the S&P 500 Index.

The Disclosure Document Supplement for BXY TRAKRS has been amended as of April 25, 2006 to reflect revisions made by the Chicago Board Options Exchange, Incorporated ("CBOE") to the historical prices of the CBOE S&P 500 2% OTM BuyWrite Index ("BXY Index"). Please see "Year End Closing Levels of the BXY Index" on page S-9, "Comparative Performance" on page S-11, and "Summary Statistics" on page S-12 for the relevant amendments.

For more information on the revisions made by the CBOE to the historical prices of the BXY Index, please visit http://www.cboe.com/Products/IndexComponentChanges.aspx

PIMCO CommodityRealReturn DJ-AIGCI TRAKRS^SM

Disclosure Document Supplement
PIMCO ® CommodityRealReturn SM DJ-AIGCI SM TRAKRS SM are nontraditional futures contracts designed to provide investors with an effective way to gain exposure to the Dow Jones-AIG Commodity Index ® (an excess return index that tracks the performance of exchange-traded futures contracts on physical commodities), enhanced by the PIMCO Real Return Collateral Index (an index of one or more qualified separate accounts, actively managed by PIMCO, invested in certain permissible instruments).

Notice dated July 3, 2006: An Addendum to the Disclosure Document Supplement has been included as of July 3, 2006 to disclose a reduction in the fees and costs in connection with the PIMCO CommodityRealReturn DJ-AIGCI TRAKRS Index as set forth in the Disclosure Document Supplement. The TRAKRS Platform Fees (as defined in the Disclosure Document Supplement) have been reduced from 1.34% per annum to 1.29% per annum. This reduction in the TRAKRS Platform Fees will be in effect starting July 5, 2006.

Notice dated June 27, 2006: The Disclosure Document Supplement for PIMCO CommodityRealReturn DJ-AIGCI TRAKRS has been amended as of June 27, 2006 to reflect revisions made to the sections entitled “Description of the PIMCO Real Return Collateral Index—Daily Valuation of the PIMCO Separately Managed Accounts and the PIMCO Real Return Collateral Index” and “—Additional Information on the PIMCO Separately Managed Accounts” on pages S-31 and S-32, respectively.

Please review the Addendum and the revised Disclosure Document Supplement for the specific changes that have been made.

PIMCO® StocksPLUS® Total Return TRAKRS^SM

Disclosure Document Supplement
Client Brochure
PIMCO StocksPLUS Total Return TRAKRS are non-traditional futures contracts that track the performance of the PIMCO StocksPLUS Total Return TRAKRS Index. The Index combines full exposure to both the S&P 500 Index and the return on a PIMCO-managed Total Return fixed-income index. Purchasers receive the return from both Indexes, less a financing rate component and certain fees.

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Merrill Lynch, Pierce, Fenner & Smith Incorporated is a registered broker-dealer and a wholly-owned subsidiary of Bank of America Corporation.
Securities Products: Are Not FDIC Insured. • Are Not Bank Guaranteed. • May Lose Value.

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The information on TRAKRS^SM contained in this Internet site is solely for informational purposes and does not constitute either an offer to sell or the solicitation of an offer to buy TRAKRS. This information on TRAKRS is not, and is not intended to be, a complete discussion of all material information you should know about TRAKRS. If you are considering whether to purchase TRAKRS, you should carefully read the relevant disclosure document and disclosure document supplement prior to making a purchase. You should not rely on the information contained in this Internet site. Please view Terms and Conditions of Use for additional important legal information and the terms and conditions governing your use of this site.

U.S. Patent Pending. TRAKRS, Total Return Asset Contracts, Long-Short Tech TRAKRS, Select 50 TRAKRS, and LMC TRAKRS are service marks of Merrill Lynch & Co., Inc.