The notes will be dated Aug. 13, 1991, and will mature April 15, 1992. They are rated MIG-1 by Moody's, SP1-plus by Standard & Poor's, and F1-plus by Fitch Investors Service. An official at Merrill Lynch reported "strong retail interest and tax-exempt money and bond fund buying, both Connecticut and general market, and some corporate and insurance company business." About 25% of the priority book was lost after the aggressive repricing, but the deal still got done, he said. The Merrill Lynch official also pointed out that the 4.60% return on Connecticut is the lowest currently available in the note market. The big California note issue of Tuesday -- still in syndicate -- carries a 4.75% yield for notes maturing June 30, 1992. Note traders said yesterday that they expected the California notes to trade up in price after syndicate restrictions are lifted.