IF statement for numeric picture format switch in MS Word Mail Merge

Good day,

I have trouble getting this formula to work,

{IF{ MERGEFIELD ABC } <= 1 "{ MERGEFIELD ABC \ # 0.000}" "{ MERGEFIELD ABC \ # 0.00}}

I require the value of ABC to be displayed in 3 decimal places if it is below 1 and 2 decimal places if it is equal or above 1.

Thank you in advance!