424B3 1 ss37461_424b3-oil.htm
PROSPECTUS SUPPLEMENT
REGISTRATION NO.  333-52022
(To Prospectus dated August 15, 2007)
Filed Pursuant to Rule 424(b)(3)

 
 





1,000,000,000 Depositary Receipts
Oil Service 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 Oil Service HOLDRS (SM) Trust.
 
The share amounts specified in the table in the “Highlights of Oil Service HOLDRS” section of the base prospectus shall be replaced with the following:
 
Name of Company(1)
Ticker
Share
Amounts
Primary
Trading
Market
Baker-Hughes Inc.
BHI
21
NYSE
BJ Services Company
BJS
28
NYSE
Cameron International Corporation
CAM
8
NYSE
Diamond Offshore Drilling, Inc.
DO
11
NYSE
ENSCO International Inc.
ESV
11
NYSE
Exterran Holdings, Inc.
EXH
1.625
NYSE
Halliburton Company
HAL
44
NYSE
Nabors Industries Ltd.
NBR
24
NYSE
National Oilwell Vargo Inc.
NOV
14
NYSE
Noble Corporation
NE
22
NYSE
Rowan Companies, Inc.
RDC
8
NYSE
Schlumberger Ltd.
SLB
22
NYSE
Smith International, Inc.
SII
16
NYSE
Tidewater Inc.
TDW
5
NYSE
(New) Transocean Inc.
RIG
22.094
NYSE
Weatherford International Ltd.(2)
WFT
36
NYSE
       

 
(1)           The merger of Grant Prideco Inc. (NYSE ticker “GRP”) and National Oilwell Varco Inc. (NYSE ticker “NOV”) became effective April 21, 2008.  As a result, Grant Prideco Inc. is no longer an underlying constituent of the Oil Service HOLDRS Trust.  For the 9 shares of Grant Prideco Inc. per 100 share round lot of Oil Service HOLDRS, The Bank of New York Mellon received 4.0482 shares of National Oilwell Varco Inc. and $208.80.  The Bank of New York Mellon distributed the cash at a rate of $2.088 per depositary share of Oil Service HOLDRS on May 1, 2008.
 
(2)           Effective May 30, 2008, deposits of Weatherford International Ltd. Common Stock (“NYSE” ticker “WFT”) for creation of Oil Service HOLDRS, increased to 36 “WFT” (instead of 18 “WFT”) per round lot of 100 Oil Service HOLDRS due to the 2 for 1 stock split of Weatherford International Ltd.
 
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.