PRICING SUPPLEMENT NO. 86 Rule 424(b)(3)
DATED: May 12, 1999 File No. 333-61437
(To Prospectus dated August 26, 1998 and
Prospectus Supplement dated August 26, 1998)
$7,315,045,162
THE BEAR STEARNS COMPANIES INC.
MEDIUM-TERM NOTES, SERIES B
WITH MINIMUM MATURITY OF NINE MONTHS FROM DATE OF ISSUE
<TABLE>
<S> <C> <C>
Principal Amount: $150,000,000 Floating Rate Notes [x] Book Entry Notes [x]
Original Issue Date: Fixed Rate Notes [_] Certificated Notes [_]
May 17, 1999
Maturity Date: CUSIP#: 073928 JK 0
May 16, 2003
Option to Extend Maturity: No [x]
Yes [_] Final Maturity Date:
Optional Optional
Redemption Repayment Repayment
Redeemable On Price(s) Date(s) Price(s)
N/A N/A N/A N/A
Applicable Only to Fixed Rate Notes:
Interest Rate:
Applicable Only to Floating Rate Notes:
Interest Rate Basis: Maximum Interest Rate: N/A
[_] Commercial Paper Rate Minimum Interest Rate: N/A
[_] Federal Funds Rate Interest Reset Date(s): *
[_] Treasury Rate Interest Reset Period: Three Months
[_] LIBOR Reuters Interest Payment Date(s): **
[x] LIBOR Telerate
[_] Prime Rate Interest Payment Period: Quarterly
[_] CMT Rate
Initial Interest Rate: ***
</TABLE>
NY2:\445196\02\9J$K02!.DOC\22625.0122
<PAGE>
Index Maturity: Three Months
Spread (plus or minus): +0.325%
* 8/16/99, 11/16/99, 2/16/00, 5/16/00, 8/16/00, 11/16/00, 2/16/01,
5/16/01, 8/16/01, 11/16/01, 2/18/02, 5/16/02, 8/16/02, 11/16/02 and
2/17/03.
** 8/16/99, 11/16/99, 2/16/00, 5/16/00, 8/16/00, 11/16/00, 2/16/01,
5/16/01, 8/16/01, 11/16/01, 2/18/02, 5/16/02, 8/16/02, 11/16/02, 2/17/03
and 5/16/03.
*** The three-month LIBOR rate on May 13, 1999 plus 32.5 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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