Free Writing Prospectus
                                                     Filed Pursuant to Rule 433
                                                     Registration No. 333-120522


BSCMS 2006-PWR12 Pricing Benchmarks

     Treasury          Treasury
      Price             Yield              Swaps
------------------    ----------       -------------
 2 YEAR:  99-25.75      4.97929%        2 Yr: 44.25
 3 YEAR:  99-26         4.94319%        3 Yr: 46.50
 5 YEAR:  99-25+        4.92121%        4 Yr: 48.75
10 YEAR: 101-6+         4.96958%        5 Yr: 51.75
30 YEAR:  91-24+        5.03711%        6 Yr: 52.75
                                        7 Yr: 53.50
                                        8 Yr: 54.25
                                        9 Yr: 54.75
                                       10 Yr: 55.50
                                       11 Yr: 57.25

STATEMENT REGARDING FREE WRITING PROSPECTUS

The depositor has filed a registration statement (including a prospectus) with
the SEC for the offering to which this free writing prospectus relates. Before
you invest, you should read the prospectus in the registration statement and
other documents the depositor has filed with the SEC for more complete
information about the depositor, the issuer and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.
Alternatively, the depositor, any underwriter or any dealer participating in the
offering will arrange to send you the prospectus you request it by calling toll
free 1-866-803-9204.

This free writing prospectus does not contain all information that is required
to be included in the base prospectus and the prospectus supplement.

The Information in this free writing prospectus is preliminary and is subject to
completion or change.

The Information in this free writing prospectus supersedes information contained
in any prior similar free writing prospectus relating to these securities prior
to the time of your commitment to purchase.

This free writing prospectus is not an offer to sell or solicitation of an offer
to buy these securities in any state where such offer, solicitation or sale is
not permitted.

IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

Any legends, disclaimers or other notices that may appear at the bottom of, or
attached to, this communication relating to:

(1) these materials not constituting an offer (or a solicitation of an offer),

(2) no representation that these materials are accurate or complete and may not
be updated, or




(3) these materials possibly being confidential,

are not applicable to these materials and should be disregarded. Such legends,
disclaimers or other notices have been automatically generated as a result of
these materials having been sent via Bloomberg or another system.

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Bear Stearns is not responsible for any recommendation, solicitation, offer or
agreement or any information about any transaction, customer account or account
activity contained in this communication.
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For informational purposes only; not Bear Stearns (BSC) research product; not a
recommendation, offer or solicitation of any security. BSC may have
underwritten, have positions, effect trades or make markets in the securities.
Data is as of this date; no obligation to update. Data from sources believed
reliable; accuracy not guaranteed and subject to change without notice.
Securities may not be suitable for all; contact your BSC rep for further info.
Trade recaps for your information at your request; not a confirmation.
Discrepancies governed by the confirmation. BSC not responsible for your use of
this information. BSC a member of the NYSE. NASD and SIPC. Copyright Bear,
Stearns & Co. Inc.

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Bear Stearns is not responsible for any recommendation, solicitation, offer or
agreement or any information about any transaction, customer account or account
activity contained in this communication.
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