PRICING SUPPLEMENT NO. 98 Rule 424(b)(3)
Dated: July 8, 1997 File No. 333-17985
(To Prospectus dated January 22, 1997
and Prospectus Supplement datd January 22, 1997)
$5,434,620,162
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
$38,000,000 [x] [x]
Original Issue Date: Fixed Rate Notes Certificated Notes
July 11, 1997 [_] [_]
Maturity Date:
July 13, 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: ***
Index Maturity: One Month
Spread (plus or minus): -0.02%
- ----------------------------------------
* 8/11/97, 9/11/97, 10/13/97, 11/11/97, 12/11/97, 1/12/98,
2/11/98, 3/11/98, 4/13/98, 5/11/98 and 6/11/98.
** 8/11/97, 9/11/97, 10/13/97, 11/11/97, 12/11/97, 1/12/98, 2/11/98, 3/11/98,
4/13/98, 5/11/98, 6/11/98 and 7/13/98.
*** The one month LIBOR rate as of July 9, 1997 minus 2 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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