PRICING SUPPLEMENT NO. 28 Rule 424 (b)(3)
DATED: September 17, 1997 File No. 333-31277
(To Prospectus dated August 13, 1997
and Prospectus Supplement dated August 13, 1997)
$5,180,520,162
THE BEAR STEARNS COMPANIES INC.
MEDIUM-TERM NOTES, SERIES B
WITH MINIMUM MATURITY OF NINE MONTHS FROM DATE OF ISSUE
Principal Amount: $20,000,000 Floating Rate Notes [_] Book Entry Notes [x]
Original Issue Date: 9/26/97 Fixed Rate Notes [x] Certificated Notes [_]
Maturity Date: 9/26/2012
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
Applicable Only to Fixed Rate Notes:
- -----------------------------------
Interest Rate: 7.00%
Interest Payment Dates: **
Applicable Only to Floating Rate Notes:
- --------------------------------------
Interest Rate Basis: Maximum Interest Rate:
[_] Commercial Paper Rate Minimum Interest Rate:
[_] Federal Funds Rate Interest Reset Date(s):
[_] Treasury Rate Interest Reset Period:
[_] LIBOR Reuters Interest Payment Date(s):
[_] LIBOR Telerate
[_] Prime Rate
[_] CMT Rate
Initial Interest Rate: Interest Payment Period:
Index Maturity:
Spread (plus or minus):
- -----------------------------
* Commencing September 26, 1999 and on monthly dates thereafter, the
Notes may be called, in whole but not in part, at the option of the
Company on eight days' calendar notice.
** Monthly on the 26th, commencing October 26, 1997.
The distribution of Notes will conform to the requirements set forth in Rule
2720 of the NASD Conduct Rules.
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