PRICING SUPPLEMENT NO. 37 Rule 424 (b)(3)
DATED: September 22, 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
$100,000,000 [x] [x]
Original Issue Date: Fixed Rate Notes Certificated Notes
9/25/97 [_] [_]
Maturity Date: 01/02/2001
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): +.17%
- ----------------------------------
* Quarterly on the 25th, commencing December 25, 1997.
** Quarterly on the 25th, commencing December 25, 1997.
*** The CMT Rate on September 23, 1997, plus 17 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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