PRICING SUPPLEMENT NO. 48 Rule 424 (b)(3)
DATED: October 9, 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: Floating Rate Notes Book Entry Notes
$5,000,000 [x] [x]
Original Issue Date: Fixed Rate Notes Certificated Notes
October 10, 1997 [_] [_]
Maturity Date:
October 15, 1998
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: 5.595%
Index Maturity: One Month
Spread (plus or minus): -0.03%
- ----------------------------------
* On the 15th of each month.
** On the 15th of each month.
The distribution of Notes will conform to the requirements set forth in Rule
2720 of the NASD Conduct Rules.
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