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PRICING SUPPLEMENT NO. 25 Rule 424(b)(3)
DATED: July 12, 1996 File No. 333-03685
(To Prospectus dated May 23, 1996
and Prospectus Supplement dated May 23, 1996)
$4,954,795,162
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
$7,000,000 [x] [x]
Original Issue Date: Fixed Rate Notes Certificated Notes
07/17/96 [_] [_]
Maturity Date: 07/16/99
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: Monthly
[_] LIBOR Reuters Interest Payment Date(s): **
[x] LIBOR Telerate
[_] Prime Rate Interest Payment Period: Monthly
[_] CMT Rate
Initial Interest Rate: ***
Index Maturity: One month
Spread (plus or minus): +0.21%
- -------------------------
* The 16th of each month commencing 08/16/96.
** The 16th of each month and 07/16/99.
*** One month LIBOR as of 07/15/96 plus 21 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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