Preheat oven to 350 degrees F (175 degrees C). Grease an 8x8 inch baking dish.
In a medium bowl, whisk together butterscotch topping, eggs and evaporated milk. Place half of bread cubes in bottom of baking dish. Cover with raisins. Pour half of topping mixture over raisins, and then layer remaining bread cubes and rest of topping over that. Press bread down to soak up butterscotch mixture. Let stand 20 minutes.
Bake in preheated oven 20 minutes, until heated through and set. Let cool 5 minutes before serving.