PRICING SUPPLEMENT NO. 138 Rule 424 (b)(3)
Dated: July 17, 1998 File NO. 333-43565
(To Prospectus dated January 21, 1998
and Prospectus Supplement dated January 21, 1998)
$7,096,595,162
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
$50,000,000 [x] [x]
Original Issue Date: Fixed Rate Notes Certificated Notes
July 22, 1998 [_] [_]
Maturity Date: CUSIP#: 073928 EA 7
July 22, 2003
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): +0.25%
NYFS04...:\25\22625\0122\2041\SUP5298P.46T
<PAGE>
* The 22nd of each month.
** The 22nd of each month.
*** The one-month LIBOR rate on July 20, 1998 plus 25 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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