Annual Percentage Yield (APY), shown above, is accurate as of April 21, 2008 and is subject to change without notice. Certificates of Deposit (CDs) are sold by Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S”) and held in brokerage accounts at MLPF&S, in which standard account fees may apply. CDs are issued by Merrill Lynch Bank USA or Merrill Lynch Bank & Trust Co., FSB. Balances on deposit at each bank, including CDs and any amounts swept automatically from an MLPF&S account, are FDIC-insured up to a maximum of $100,000 in accordance with FDIC rules. Certain retirement accounts are FDIC-insured up to a maximum of $250,000. MLPF&S limits the purchase amount of a single CD from any one bank to $98,000 for three-month CDs. MLPF&S limits the purchase amount of a single CD for certain retirement accounts from any one bank to $246,000 for three-month CDs. Early withdrawal of CDs is generally not allowed; penalties for early withdrawal may apply. Although not required to do so, MLPF&S may provide a secondary market so that customers can sell their CDs prior to maturity. Liquidating CDs in the secondary market will be subject to current market conditions, and the price may be higher or lower than the price originally paid. Total amount of CDs to be issued under this offer is limited and offer may be withdrawn at any time.