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Bear Stearns to price 13.6% ReConvs linked to America Movil
By E. Janene Geiss
Philadelphia, Sept. 26 - The Bear Stearns Cos. Inc. plans to price 13.6% one-year ReConvs linked to American Depositary Shares of America Movil, SAB de CV, according to an FWP filing with the Securities and Exchange Commission.
At maturity, investors will receive par unless America Movil's ADSs fall below the knock-in price - 80% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of America Movil ADSs equal to $1,000 divided by the initial share price.
The issue price is 100% of par, or $1,000. Investors who purchase $1 million or more in notes will pay 99% of par per note.
Bear Stearns & Co. Inc. will be the agent.
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