By Jennifer Chiou
New York, Jan. 30 - The Bear Stearns Cos. Inc. priced a $1.036 million issue of 0% notes due Jan. 30, 2011 linked to the S&P MidCap 400 index, according to a 424B8 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any positive return on the index multiplied by the upside participation rate, which is 104.5%.
If the index declines by 15% or less, the payout will be par. Investors will lose 1% for each 1% decline beyond 15%.
Bear, Stearns & Co. Inc. is the agent for the offering.
| Issuer: | The Bear Stearns Cos. Inc.
|
| Issue: | Medium-term series B notes
|
| Underlying index: | S&P MidCap 400
|
| Amount: | $1.036 million
|
| Maturity: | Jan. 30, 2011
|
| Coupon: | 0%
|
| Payment at maturity: | Par plus any positive return multiplied by 104.5%; par if the index declines by 15% or less; investors will lose 1% for each 1% decline beyond 15%
|
| Initial index level: | 817.23
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 30
|
| Agent: | Bear, Stearns & Co. Inc.
|
| Fees: | 0%
|
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