Published on 2/27/2008 in the Prospect News Structured Products Daily.
New Issue: Bear Stearns prices $140,000 range bound notes linked to Caterpillar
By Laura Lutz
Des Moines, Feb. 27 - Bear Stearns Cos. Inc. priced $140,000 of 0% range bound notes due Aug. 27, 2009 linked to the common stock of Caterpillar Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Caterpillar stock remains within the upper and lower barriers throughout the life of the notes, the payout at maturity will be par plus 27%. Otherwise, the payout will be par.
The upper and lower barriers are 22% above and below the initial share price, respectively.
Bear, Stearns & Co. Inc. is the agent.
Issuer: | Bear Stearns Cos. Inc.
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Issue: | Range bound notes
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Underlying stock: | Caterpillar Inc. (Symbol: CAT)
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Amount: | $140,000
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Maturity: | Aug. 27, 2009
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If stock stays within 22% of initial level, 127% of par; otherwise, par
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Initial level: | $71.18
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Lower barrier: | $55.52, 78% of initial level
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Upper barrier: | $86.84, 122% of initial level
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Pricing date: | Feb. 22
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Settlement date: | Feb. 27
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Agent: | Bear, Stearns & Co. Inc.
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Fees: | 1.75%
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