424B3 1 f424b3_050602.txt PROSPECTUS SUPPLEMENT PROSPECTUS SUPPLEMENT FILED PURSUANT TO RULE NO. 424(b)(3) (To Prospectus dated March 12, 2002) REGISTRATION NO. 333-92613 333-95807 [TELECOM HOLDRS LOGO] 1,000,000,000 Depositary Receipts Telecom HOLDRS (SM) Trust This prospectus supplement supplements information contained in the prospectus dated March 12, 2002 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 on page 12 of the base prospectus shall be replaced with the following:
Share Primary Name of Company (1) Ticker Amounts Trading Market ------------------- ------ ------- -------------- ALLTEL Corp. AT 2 NYSE AT&T Corp. T 25 NYSE AT&T Wireless Services AWE 8.045 NYSE BCE Inc. BCE 5 NYSE BellSouth Corp. BLS 15 NYSE Broadwing Inc. BRW 2 NYSE CenturyTel, Inc. CTL 1 NYSE Level 3 Communications, Inc. LVLT 3 NASDAQ McLeodUSA Inc. MCLDQ 3 NASDAQ MCI Group MCIT 0.88 NASDAQ Nextel Communications, Inc. NXTL 6 NASDAQ Qwest Communications International Inc. Q 12.91728 NYSE SBC Communications Inc. SBC 27 NYSE Sprint Corporation-FON Group FON 6 NYSE Sprint Corporation-PCS Group PCS 6 NYSE Telephone and Data Systems, Inc. TDS 1 AMEX Verizon Communications VZ 21.76 NYSE WorldCom Group WCOM 22 NASDAQ
-------------------------------------- (1) Effective March 28, 2002, NTL Incorporated, a component of the Telecom HOLDRS Trust, was delisted from trading on the NYSE and was not listed for trading on another national securities exchange within five business days. As such, NTL Incorporated was distributed from the basket at a rate of .0125 shares per Telecom HOLDR, and is no longer included in Telecom HOLDRS. 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, 2002.