Bear Stearns Capital Trust I to Redeem Fixed/Adjustable Rate Capital Securities.Business Editors NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York-(BUSINESS WIRE)--December 20, 2001--Bear Stearns Capital Trust I, a special purpose trust controlled by The Bear Stearns Companies Inc. (NYSE NYSE See: New York Stock Exchange : BSC (Binary Synchronous Communications) See bisync. ), today announced that it has called for redemption all of its outstanding Fixed/Adjustable Rate Capital Securities, totaling $200,000,000 in principal amount. The redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. will be $1,000 per Capital Security plus accrued and unpaid distributions in the amount of $35.00 per Capital Security, due and payable on January 15, 2002 to holders of record on December 14, 2001. The Capital Securities are being called pursuant to the redemption provisions of the governing documents and all distributions on the Capital Securities will cease to accrue on and after January 15, 2002, the redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. . Bear Stearns Capital Trust I is a statutory business trust created under Delaware law. All of its common securities are owned by The Bear Stearns Companies Inc. Bear Stearns Capital Trust I exists solely to issue and sell its common and capital securities, using the proceeds to acquire debentures issued by The Bear Stearns Companies Inc. Founded in 1923, The Bear Stearns Companies Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., a leading investment banking and securities trading and brokerage firm serving governments, corporations, institutions and individuals worldwide. With approximately $29.8 billion in total capital, the companys business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales, trading and research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers prime broker and broker dealer clearing services, including securities lending Securities Lending When a brokerage lends securities owned by its clients to short sellers. Notes: This allows brokers to create additional revenue (commissions) on the short sale transaction. . Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the company has approximately 10,500 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Denver, Los Angeles, San Francisco and San Juan; and an international presence in Beijing, Dublin, Herzliya, Hong Kong, London, Lugano, Milan, Sao Paulo, Seoul, Shanghai, Singapore and Tokyo. For additional information about Bear Stearns, please visit our Web site at http://www.bearstearns.com. |
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