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Bear Stearns to price 14.25% ReConvs linked to ArvinMeritor
By Jennifer Chiou
New York, Sept. 21 - Bear Stearns Cos. Inc. plans to price 14.25% ReConvs due September 2008 linked to ArvinMeritor, Inc. common stock via Bear Stearns & Co. Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable semiannually.
At maturity, investors will receive par unless ArvinMeritor stock falls below the knock-in price - 70% of the initial share price - during the life of the notes or finishes below the initial share price, in which case the payout will be a number of ArvinMeritor shares equal to $1,000 divided by the initial share price.
The notes will price and settle in September.
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