New Issue: Bear Stearns prices $6.2 million 0% Summits linked to index basket

By Laura Lutz

Des Moines, June 29 - Bear Stearns Cos. Inc. priced a $6.2 million issue of 0% Strategic Upside Market Mitigating Index Term Securities (Summits) due June 30, 2011 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes the S&P 500 index with a 50% weight, the Dow Jones Euro Stoxx 50 index with a 38% weight, the Nikkei 225 index with a 10% weight and the S&P/ASX 200 index with a 2% weight.

If the basket increases, the payout at maturity will be par plus 130% of the gain.

If the basket remains flat or declines by up to 25%, the payout will be par. Investors will shares in any losses beyond 25%.

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

Issuer:	Bear Stearns Cos. Inc.
Issue:	Strategic Upside Market Mitigating Index Terms Securities (Summits)
Underlying indexes:	S&P 500 (50% weight), Dow Jones Euro Stoxx 50 (38% weight), Nikkei 225 (10% weight) and S&P/ASX 200 (2% weight)
Amount:	$6.2 million
Maturity:	June 30, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	If basket increases, par plus 130% of the basket gain; par if basket remains flat or declines by up to 25%; share in losses beyond 25%
Initial levels:	1,506.34 for S&P 500; 3,886.99 for Euro Stoxx 50; 17,849.28 for Nikkei 225; 6,184.20 for S&P/ASX 200
Pricing date:	June 27
Settlement date:	June 29
Underwriter:	Bear, Stearns & Co. Inc.
Fees:	2.42%

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