Bear Stearns plans principal protected leveraged lookback notes linked to four currencies

By Laura Lutz

Des Moines, Nov. 19 - The Bear Stearns Cos. Inc. plans to price two-year principal protected leveraged lookback notes linked to a basket of currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of equal weights of the Brazilian real, the Russian ruble, the Indian rupee and the Chinese yuan, all against the dollar.

The basket return will be determined on each of four semiannual observation dates. The payout at maturity will be based on the highest of those basket returns.

If the highest of those returns is positive, the payout at maturity will be par plus 170% of that return. Otherwise, investors will receive par.

The notes are expected to price and settle in November.

Bear Stearns & Co. Inc. is the underwriter.

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