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Bear, Stearns & Co. Inc. (NYSE: BSC) today announced that it has
launched the first Exchange Traded Note (ETN) designed to provide
investors with efficient access to energy-related Master Limited
Partnerships (MLPs). The ETN, called BearLinxSM
Alerian MLP Select Index ETN, captures the performance of the Alerian
MLP Select Index (AMZS Index) – a
comprehensive benchmark of energy-oriented MLPs. The BearLinxSM
ETN is listed on the New York Stock Exchange and began trading today
under the symbol “BSR”.
“The BearLinx ETN offers investors exposure to
a diversified MLP index through one purchase where no Exchange Traded
Fund exists or has yet been created,” said
Bill Bamber, senior managing director in Bear Stearns Structured Equity
Products. “This ETN is an innovative way for
institutions and individual investors to access the MLP market in both a
cost and operationally efficient manner,”
added Joshua Dunivant, salesperson in Structured Equity Products.
The 20-year BearLinxSM ETN will track the
change in the level of the AMZS Index and investors will receive monthly
coupons equal to the amount of dividends that would be paid by the MLPs
underlying the AMZS Index each month, minus a tracking fee. The MLPs
underlying the AMZS Index are generally limited partnerships engaged in
the exploration, marketing, mining, processing, production, storage or
transportation of any mineral or natural resources. Alerian Capital
Management launched the Alerian MLP Select Index on May 16, 2007.
For more information, Bear Stearns clients should contact their Bear
Stearns sales representative.
About Bear Stearns
Founded in 1923, The Bear Stearns Companies Inc. (NYSE: BSC) is a
leading financial services firm serving governments, corporations,
institutions and individuals worldwide. The Company’s
core business lines include institutional equities, fixed income,
investment banking, global clearing services, asset management, and
private client services. Headquartered in New York City, the company has
approximately 15,000 employees worldwide. For additional information
about Bear Stearns, please visit the firm’s
web site at www.bearstearns.com.
The issuer has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication
relates. Before you invest, you should read the prospectus and
other documents the issuer has filed with the SEC for more complete
information about the issuer and this offering. You may get these
documents for free by visiting EDGAR on the SEC website at www.sec.gov
or by following the hyperlinks provided below. Alternatively, the
issuer, any underwriter or any dealer participating in the offering will
arrange to send you the prospectus if you request it by calling
toll-free 1-866-803-9204, or you may request a copy from any other
dealer participation in the offering. You may also access the
prospectus, prospectus supplement and pricing supplement on the SEC
website as follows:
Pricing Supplement:
http://www.sec.gov/Archives/edgar/data/777001/000114420407037421/v081
375_424b5.htm
Prospectus Supplement: http://www.sec.gov/Archives/edgar/data/777001/000104746906011015/a217
2743z424b5.htm
Prospectus:
http://sec.gov/Archives/edgar/data/777001/000104746906011007/a2172711
zs-3asr.htm
(Due to the length of these URLs, it may be necessary to copy and paste
it into your Internet browser's URL address field. You may also need to
remove an extra space in the URL if one exists.)
Alerian MLP Select Index, Alerian MLP Select Total Return Index, Alerian
MLP Index and Alerian MLP Total Return Index are trademarks of Alerian
Capital Management LLC and their use is granted under a license from
Alerian Capital Management LLC