PRICING SUPPLEMENT NO. 87 Rule 424(b)(3)
DATED: December 1, 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
$3,000,000 [x] [x]
Original Issue Date: Fixed Rate Notes Certificated Notes
December 2, 1997 [_] [_]
Maturity Date:
December 2, 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: Quarterly
[_] LIBOR Reuters Interest Payment Date(s): **
[x] LIBOR Telerate
[_] Prime Rate Interest Payment Period: Quarterly
[_] CMT Rate
Initial Interest Rate: ***
Index Maturity: Three Months
Spread (plus or minus): -0.05%
- -------------------
* 3/2/98, 6/2/98 and 9/2/98.
** 3/2/98, 6/2/98, 9/2/98 and 12/2/98.
*** The three-month LIBOR Telerate on November 28, 1997 minus 5
basis points.
The distribution of Notes will conform to the requirements set forth in Rule
2720 of the NASD Conduct Rules.
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