Bear Stearns to price principal-protected bear notes linked to currency basket

By Angela McDaniels

Seattle, May 23 - Bear Stearns Cos. Inc. plans to price an offering of zero-coupon principal-protected bear notes due May 29, 2009 linked to a basket of currencies, according to an FWP filing with the Securities and Exchange Commission.

The basket will include equal weights of the dollar/Brazilian real, dollar/Indian rupee and dollar/Turkish lira exchange rates.

The payout at maturity will be par plus 600% of the absolute value of any basket decrease. Investors will receive at least par and will only receive a gain if the dollar weakens relative to the basket currencies.

The notes will price on May 24 and settle on May 30.

Barclays Capital will be 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.