Complete story — includes the ending
Peter brings Rebecca in to help locate Neal, who is being held captive by one of her former associates, Jim Boothe. Meanwhile, Jim wastes no time letting Neal know that if he doesn't comply with his demands he'll be pushed down an elevator shaft. Jim has lofty aspirations of joining an exclusive group of thieves, The Pink Panthers, and his entry ticket is the diamond currently held by the FBI. He needs Neal to steal it back. But Neal has a better plan - he thinks the situation calls for a grander gesture, and, for his trouble, he expects something in return. Elizabeth tells Peter that she is pregnant. Rebecca, upon leaving white collar, takes an agent's gun which leaves the second agent no choice but to shoot her, killing her in the end. As Neal says, "She made a choice. For Her, it was better to risk almost certain death than go back to jail."
Sources and content license
Source and revision history · Adapted from Wikipedia contributors, List of White Collar episodes. HTML formatting and reference markers removed. · Content license