New Issue: Bear Stearns prices $0.5 million 18% notes linked to Energy Conversion Devices

By Jennifer Chiou

New York, June 8 - The Bear Stearns Cos. Inc. priced a $0.5 million issue of 18% notes due June 12, 2007 linked to Energy Conversion Devices, Inc. stock, according to an FWP filing with the Securities and Exchange Commission.

Issuer:	The Bear Stearns Cos. Inc.
Issue:	Medium-term notes
Underlying stock:	Energy Conversion Devices, Inc.
Amount:	$0.5 million
Maturity:	June 12, 2007
Coupon:	18%, payable monthly
Price:	Par
Payout at maturity:	Par unless Energy Conversion Devices stock falls by more than 40% during the life of the notes and finishes below its initial value, in which case payout is 24 shares of Energy Conversion Devices common stock plus cash for remainder of par divided by initial value or cash equal to par minus any decrease in the stock at issuer's option
Initial share price:	$41.578
Protection price:	$24.947, 60% of the initial share price
Pricing date:	June 7
Settlement date:	June 12
Agent:	Bear, Stearns & Co., Inc.

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