New Issue: Bear Stearns prices $10.4 million 0% notes linked to S&P 500

By Jennifer Chiou

New York, Feb. 29 - Bear Stearns Cos. Inc. priced $10.4 million of 0% medium-term notes due March 3, 2009 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index remains below the upper barrier and above the lower barrier at all times, the payout at maturity will be par plus the absolute value of the index return. Otherwise, the payout will be par.

The upper and lower barriers are 19.5% above and below the initial index level, respectively.

There is a $1.56 million over-allotment option.

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

Issuer:	Bear Stearns Cos. Inc.
Issue:	Medium-term notes, series B
Underlying index:	S&P 500
Amount:	$10.4 million
Greenshoe:	$1.56 million
Maturity:	March 3, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	If the index remains within the barriers, par plus the absolute value of index return; otherwise, par
Initial index level:	1,381.29
Lower barrier:	1,111.9385, 80.5% of initial level
Upper barrier:	1,650.6416, 119.5% of initial level
Pricing date:	Feb. 26
Settlement date:	Feb. 29
Underwriter:	Bear, Stearns & Co. Inc.
Fees:	1.25%

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