424B3 1 ss37323_424b3.htm
 
PROSPECTUS SUPPLEMENT
REGISTRATION NO. 333-95807
(To Prospectus dated August 15, 2007) 
Filed Pursuant to Rule 424(b)(3)
 
 
1,000,000,000 Depositary Receipts
Telecom HOLDRS (SM) Trust

This prospectus supplement supplements information contained in the prospectus dated August 15, 2007 relating to the sale of up to 1,000,000,000 depositary receipts by the Telecom HOLDRS (SM) Trust.
 
The share amounts specified in the table in the “Highlights of Telecom HOLDRS” section of the base prospectus shall be replaced with the following:
 
Name of Company(1)
Ticker
Share Amounts
Primary
Trading
Market
AT&T Inc.  
T
50.7721
NYSE
BCE Inc.
BCE
4.575
NYSE
Century Telephone Enterprises, Inc.
CTL
1
NYSE
Cincinnati Bell Inc.
CBB
2
NYSE
Embarq Corporation
EQ
0.8303
NYSE
FairPoint Communications, Inc.(1)
FRP
0.4104
NYSE
Level 3 Communications, Inc.
LVLT
3
NASDAQ
Qwest Communications International Inc.
Q
12.9173
NYSE
Sprint Nextel Corporation
S
16.6050
NYSE
Telephone and Data Systems, Inc.
TDS
1
AMEX
Telephone and Data Systems, Inc. – Special Common Shares
TDS.S
1
AMEX
Verizon Communications Inc.(1)
VZ
21.76
NYSE
Windstream Corporation 
WIN
2.0679
NYSE
       
       

 
(1)           As a result of the spin-off of FairPoint Communications, Inc. (NYSE ticker “FRP”) from Verizon Communications Inc. (NYSE ticker “VZ”), an underlying constituent of the Telecom HOLDRS Trust, effective April 4, 2008, FairPoint Communications, Inc. was added as an underlying constituent of the Telecom HOLDRS Trust.  For the 21.76 shares of Verizon Communications Inc. per 100 shares round lot of Telecom HOLDRS, The Bank of New York received 0.41037633344 shares of FairPoint Communications, Inc.
 

 
 
The share amounts listed in the table above reflect all previous stock splits, dividends and business combination transactions.
 
The date of this prospectus supplement is March 31, 2008.