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Bear Stearns to price principal-protected bear notes linked to five Asian currencies
By Susanna Moon
Chicago, Jan. 8 - Bear Stearns Cos. Inc. plans to price an offering of zero-coupon principal-protected notes due January 2010 linked to a basket of Asian currencies, according to an FWP filing with the Securities and Exchange Commission.
The basket contains equal weights of the Singapore dollar, South Korean won, New Taiwan dollar, Malaysian ringgit and Indonesian rupiah, all against the U.S. dollar.
The payout at maturity will be par plus 130% to 140% of any basket gain, with the exact participation rate to be set at pricing. Investors will receive at least par.
The notes are expected to price in January.
Bear, Stearns & Co. Inc. will be the agent.
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