PRICING SUPPLEMENT NO. 91 Rule 424(b)(3)
DATED: July 1, 1997 File No. 333-17985
(To Prospectus dated January 22, 1997
and Prospectus Supplement dated January 22, 1997)
$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
$25,000,000 [x] [x]
Original Issue Date: Fixed Rate Notes Certificated Notes
July 7, 1997 [_] [_]
Maturity Date:
July 7, 1999
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: Quarterly
[_] LIBOR Reuters Interest Payment Date(s): **
[_] LIBOR Telerate
[_] Prime Rate
[x] CMT Rate
Initial Interest Rate: *** Interest Payment Period: Quarterly
Index Maturity: Two Years
Spread (plus or minus): + 0.04%
- ----------------------
* The 7th of each October, January, April and July commencing 10/07/97.
** The 7th of each October, January, April and July commencing 10/07/97.
*** The CMT Rate on 07/02/97 plus 4 basis points.
The distribution of Notes will conform to the requirement set forth in the
applicable sections of Schedule E to the By-laws of the National Association of
Securities Securities Dealers, Inc.
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