PRICING SUPPLEMENT NO. 48 Rule 424(b)(3)
DATED: March 23, 1998 File No. 333-43565
(To Prospectus dated January 21, 1998
and Prospectus Supplement adted 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
$6,000,000 [x] [x]
Original Issue Date: Fixed Rate Notes Certificated Notes
March 26, 1998 [_] [_]
Maturity Date:
March 24, 2000
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): +0.10%
<PAGE>
- -----------
* The 24th of each month.
** The 24th of each month.
*** The one month LIBOR rate as of March 24, 1998 plus 10 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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