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PRICING SUPPLEMENT NO. 70 Rule 424(b)(3)
DATED: May 9, 1996 File No. 33-63561
(To Prospectus dated December 18, 1995
and Prospectus Supplement dated December 18, 1995)
$3,650,742,350
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
$25,000,000 [x] [x]
Original Issue Date: Fixed Rate Notes Certificated Notes
05/14/96 [_] [_]
Maturity Date: 05/14/98
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
[x] Federal Funds Rate Interest Reset Date(s): *
[_] Treasury Rate Interest Reset Period: Daily
[_] LIBOR Interest Payment Date(s): **
[_] Prime Rate
[_] CMT Rate
Initial Interest Rate: *** Interest Payment Period: Quarterly
Index Maturity: N/A
Spread (plus or minus): + 0.30%
- -------------------------
* Daily on each Business Day.
** The 14th of each February, May, August and November, commencing
08/14/96.
*** The Federal Funds Rate as of May 13, 1996 plus 30 basis points.
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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.
NYFS04...:\25\22625\0122\1773\EEE4106U.41A
