PRICING SUPPLEMENT NO. 27 Rule 424(b)(3)
DATED: February 25, 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
$25,000,000 [x] [x]
Original Issue Date: Fixed Rate Notes Certificated Notes
March 20, 1998 [_] [_]
Maturity Date:
March 23, 2010
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: Three Months
[_] LIBOR Reuters Interest Payment Date(s): **
[x] LIBOR Telerate Redeemable On and After ***
[_] Prime Rate Interest Payment Period: Quarterly
Minimum Coupon: 0.00%
Coupon Day Count: Actual/Actual
[_] CMT Rate
Initial Interest Rate: ****
Index Maturity: Three Months
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* Quarterly on the 23rd of each June, September, December and
March.
** Quarterly on the 23rd of each June, September, December and
March.
*** Commencing on March 23, 1999 and on quarterly dates thereafter, the
Notes may be called at 100% of the principal amount, in whole but not
in part, at the option of the Company on eight days' calendar notice.
**** The three-month LIBOR rate plus 1.50%, subject to the
Accrual Provision, under which the coupon will accrue, as
set forth below, for each day that the three-month LIBOR is
less than or equal to 8.25% on the accrual determination
date for the three-month LIBOR rate. For days that the
three-month LIBOR rate is greater than 8.25%, the Minimum
coupon accrues. The three-month LIBOR rate will be
determined daily, subject to the Rate Cut-off date, which is
seven days. The three-month LIBOR for Saturday, Sunday, or
a day which is not a New York Business Day or a London
Banking Day will be the three-month LIBOR from the
immediately prior New York Business Day or London Banking
Day, provided further that the three-month LIBOR rate
applicable to the preceeding seven New York Business Days to
an Interest Payment Date will remain in effect until such
Interest Payment Date LIBOR.
The distribution of Notes will conform to the requirements set forth in Rule
2720 of the NASD Conduct Rules.
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