PRICING SUPPLEMENT NO. 38 Rule 424(b)(3)
DATED: January 5, 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
Principal Amount: $15,000,000 Floating Rate Notes [x] Book Entry Notes [x]
Original Issue Date: Fixed Rate Notes [_] Certificated Notes [_]
January 8, 1999
Maturity Date: CUSIP#: 073928 GK 3
January 10, 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: Three Months
[_] LIBOR Reuters Interest Payment Date(s): **
[x] LIBOR Telerate
[_] Prime Rate Interest Payment Period: Quarterly
[_] CMT Rate
Initial Interest Rate: ***
Index Maturity: Three Months
Spread (plus or minus): +0.15%
- ---------------------------------------------
* 4/12/99, 7/12/99 and 10/11/99.
** 4/12/99, 7/12/99, 10/11/99 and 1/10/2000.
*** The three-month LIBOR rate on January 6, 1999 plus 15 basis points.
The distribution of Notes will conform to the requirements set forth in Rule
2720 of the NASD Conduct Rules.
NYFS04...:\25\22625\0122\2041\SUP1069N.240
