Free
Writing Prospectus
Filed
Pursuant to Rule 433
Registration
No. 333−136666
July
20, 2007
| Media
Contact: |
Monica
Orbe
Global
Equities
Bear,
Stearns & Co. Inc.
(212)
272-9294
morbe@bear.com
|
Immediate
Release
BEAR
STEARNS LAUNCHES BEARLINXSM
EXCHANGE TRADED NOTE
LINKED
TO THE ALERIAN MLP SELECT INDEX
NEW
YORK
- New York - July 20, 2007 - 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:
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.