Bear Stearns plans issue of reverse convertibles linked to Best Buy

By Jennifer Chiou

New York, Sept. 18 - Bear Stearns Cos. Inc. plans to price an issue of six-month reverse convertible notes linked to Best Buy Co., Inc. stock, according to an FWP filing with the Securities and Exchange Commission.

The coupon is talked at 14.5%.

If Best Buy stock falls by 20% or more during the life of the notes and the stock finishes below the initial share price, payout will be cash, with a full exposure to the stock's decline, or a number of Best Buy shares equal to $1,000 divided by the initial share price.

Otherwise, payout is par.

The notes will price and settle in September.

Bear, Stearns & Co. Inc. is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.