THE BEAR STEARNS COMPANIES INC.
IncomeNotes(SM)
With Maturities of Nine Months or More from Date of Issue
Registration No. 333-109793
Filed Pursuant to Rule 424(b)(3)
Pricing Supplement No. 23
(To Prospectus dated November 17, 2003,
and Prospectus Supplement dated November 17, 2003)
Trade Date: May 17, 2004
Issue Date: May 20, 2004
The date of this Pricing Supplement is May 17, 2004
Fixed Rate Notes
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Interest
Maturity Price to Discounts & Payment
CUSIP# Interest Rate Date Public Commissions Reallowance Dealer Frequency
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07387EFF9 4.40% 5/15/2009 100.00% 1.00% 0.150% 99.25% Semi
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07387EFG7 6.34% 5/15/2029 100.00% 2.50% 0.350% 98.00% Semi
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Subject to Redemption
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First
Interest Aggregate
First Interest Payment Survivor's Yes/No Principal
Payment Date Amount Option Date and Terms of Redemption Amount Net Proceeds
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11/15/2004 $22.24 Yes No N/A $616,000 $609,840
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Commencing on 5/15/2009 and on the 15th of
each month thereafter until Maturity, the
11/15/2004 $32.05 Yes Yes Notes may be called in whole at par at the $18,613,000 $18,147,675
option of the Company on ten calendar days
notice.
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The distribution of IncomeNotes will conform to the requirements set forth in
Rule 2720 of the NASD Conduct Rules.