PRICING SUPPLEMENT NO. 3 Rule 424(b)(3)
DATED: May 19, 2003+ File No. 333-104455
May 20, 2003++
(To Prospectus dated April 24, 2003,
and Prospectus Supplement dated April 24, 2003)
$10,227,293,162
THE BEAR STEARNS COMPANIES INC.
MEDIUM-TERM NOTES, SERIES B
Principal Amount: $325,000,000 Floating Rate Notes [x] Book Entry Notes [x]
Original Issue Date: 5/22/2003 Fixed Rate Notes [ ] Certificated Notes [ ]
Maturity Date: 5/23/2005 CUSIP#: 073928ZK2
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:
Interest Payment Dates:
Applicable Only to Floating Rate Notes:
--------------------------------------
Interest Rate Basis: Maximum Interest Rate: N/A
[ ] Commercial Paper Rate Minimum Interest Rate: N/A
[ ] Federal Funds Effective Rate
[x] Federal Funds Open Rate Interest Reset Date(s): Daily
[ ] Treasury Rate Interest Reset Period: Daily
[ ] LIBOR Reuters Interest Payment Date(s): *
[ ] LIBOR Telerate
[ ] Prime Rate
[ ] CMT Rate
Initial Interest Rate: 1.5% Interest Payment Period: Quarterly
Index Maturity: N/A
Spread (plus or minus): + 0.25%
+ $175,000,000 was traded on May 19, 2003.
++ $150,000,000 was traded on May 20, 2003.
* 8/22/03, 11/22/03, 2/22/04, 5/22/04, 8/22/04, 11/22/04, 2/22/05 and 5/23/05.
The distribution of Notes will conform to the requirements set forth in Rule
2720 of the NASD Conduct Rules.