PRICING SUPPLEMENT NO. 51 Rule 424(b)(3)
DATED: October 16, 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 [x] Book Entry Notes [x]
Original Issue Date: 10/21/97 Fixed Rate Notes [_] Certificated Notes [_]
Maturity Date: 10/21/98
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): *
[x] Treasury Rate Interest Reset Period: Weekly
[_] LIBOR Reuters Interest Payment Date(s): **
[_] LIBOR Telerate
[_] Prime Rate
[_] CMT Rate
Initial Interest Rate: *** Interest Payment Period: Quarterly
Index Maturity: Three months
Spread (plus or minus): +.60%
- -----------------------------------------
* Weekly on each Tuesday, or the day following the Treasury auction.
** 1/21/98, 4/21/98, 7/21/98 and 10/21/98.
*** The three-month Treasury Rate on 10/20/97 plus 0.60%.
The distribution of Notes will conform to the requirements set forth in Rule
2720 of the NASD Conduct Rules.
NYFS04...:\25\22625\0122\1824\HHH8287R.25B
