PRICING SUPPLEMENT NO. 1 Rule 424(b)(3)
DATED: August 13, 1997 File No. 333-31277
(To Prospectus dated August 13, 1997
and Prospectus Supplement dated August 13, 1997)
$5,180,570,162
THE BEAR STEARNS COMPANIES INC.
MEDIUM-TERM NOTES, SERIES B
WITH MINIMUM MATURITY OF NINE MONTHS FROM DATE OF ISSUE
Principal Amount: $26,000,000 Floating Rate Notes [_] Book Entry Notes [x]
Original Issue Date: 9/08/97 Fixed Rate Notes [x] Certificated Notes [_]
Maturity Date: 9/08/2017
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: 0.00%
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):
- ---------------------------------------
NYFS04...:\25\22625\0122\1824\HHH8147K.140
<PAGE>
* Commencing September 8, 1998 and on semi-annual dates thereafter, the
Notes may be called, in whole but not in part, at varying prices (see
Schedule A below) at the option of the Company on eight days' calendar
notice.
** At maturity or call.
The distribution of Notes will conform to the requirements set forth in Rule
2720 of the NASD Conduct Rules.
SCHEDULE A
----------
Year 0: 19.4742% Year 10.5: 45.9720%
Year 1: 21.1342% Year 11: 47.8913%
Year 1.5 22.0166% Year 11.5: 49.8908%
Year 2: 22.9358% Year 12: 51.9737%
Year 2.5: 23.8934% Year 12.5: 54.1436%
Year 3: 24.8909% Year 13: 56.4041%
Year 3.5 25.9301% Year 13.5: 58.7590%
Year 4: 27.0127% Year 14: 61.2122%
Year 4.5: 28.1405% Year 14.5: 63.7678%
Year 5: 29.3153% Year 15: 66.4301%
Year 5.5: 30.5392% Year 15.5 69.2036%
Year 6: 31.8143% Year 16: 72.0928%
Year 6.5: 33.1425% Year 16.5: 75.1027%
Year 7: 34.5262% Year 17: 78.2382%
Year 7.5: 35.9677% Year 17.5: 81.5047%
Year 8: 37.4693% Year 18: 84.9075%
Year 8.5: 39.0337% Year 18.5: 88.4524%
Year 9: 40.6633% Year 19: 92.1453%
Year 9.5: 42.3610% Year 19.5: 95.9923%
Year 10: 44.1296% Year 20: 100.000%
