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PRICING SUPPLEMENT NO. 38 Rule 424(b)(3)
DATED: February 14, 1995 File No. 33-55673
(To Prospectus dated October 7, 1994
and Prospectus Supplement dated October 7, 1994)
$3,891,376,750
THE BEAR STEARNS COMPANIES INC.
MEDIUM-TERM NOTES, SERIES B
WITH MINIMUM MATURITY OF NINE MONTHS FROM DATE OF ISSUE
Principal Amount: Floating Rate Notes Book Entry Notes
$5,000,000 [x] [x]
Original Issue Date: Fixed Rate Notes Certificated Notes
02/22/95 [_] [_]
Maturity Date: 02/23/98
Option to Extend Maturity: No [x]
Yes [_] Final Maturity Date:
Optional Optional
Redemption Repayment Repayment
Redeemable On Price(s) Date(s) Price(s)
------------- -------- ------- --------
N/A N/A N/A N/A
Applicable Only to Fixed Rate Notes:
- -----------------------------------
Interest Rate:
Applicable Only to Floating Rate Notes:
- --------------------------------------
Interest Rate Basis: Maximum Interest Rate: N/A
[_] Commercial Paper Rate Minimum Interest Rate: N/A
[_] Federal Funds Rate Interest Reset Date(s): *
[_] Treasury Rate Interest Reset Period: Quarterly
[x] LIBOR Interest Payment Date(s): **
[_] Prime Rate Interest Payment Period: Quarterly
[_] CMT Rate
Initial Interest Rate: ***
Index Maturity: Three Months
Spread (plus or minus): +.38%
- -------------------------
* 05/23/95, 08/23/95, 11/23/95, 02/23/96, 05/23/96, 08/23/96, 11/23/96,
02/23/97, 05/23/97, 08/23/97 and 11/23/97.
** 05/23/95, 08/23/95, 11/23/95, 02/23/96, 05/23/96, 08/23/96, 11/23/96,
02/23/97, 05/23/97, 08/23/97, 11/23/97 and 02/23/98.
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*** Three month LIBOR rate as of February 17, 1995 plus 38 basis points.
The distribution of Notes will conform to the requirements set forth in the
applicable sections of Schedule E to the By-laws of the National
Association of Securities Dealers, Inc.
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