Bear Stearns to price 14.25% reverse convertibles linked to Goldman Sachs

By E. Janene Geiss

Philadelphia, Jan. 16 - Bear Stearns Cos. Inc. plans to price 14.5% one-year reverse convertible notes linked to the common stock of the Goldman Sachs Group, Inc., according to an FWP filing with the Securities and Exchange Commission.

At maturity, investors will receive par unless Goldman Sachs stock falls below the knock-in price - 70% 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 Goldman Sachs shares equal to $1,000 divided by the initial share price.

The notes are expected to price and settle in January.

Bear, Stearns & Co. Inc. will be the agent.

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