PRICING SUPPLEMENT NO. 23 Rule 424(b)(3)
DATED: February 28, 2001 File No. 333-52902
(To Prospectus dated January 11, 2001,
and Prospectus Supplement dated January 11, 2001)
$9,015,893,162
THE BEAR STEARNS COMPANIES INC.
MEDIUM-TERM NOTES, SERIES B
Principal Amount: Floating Rate Notes [x] Book Entry Notes [x]
$25,000,000
Original Issue Date: Fixed Rate Notes [ ] Certificated Notes [ ]
3/6/2001
Maturity Date: 3/6/2002 CUSIP#: 073928TE3
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
[ x ] Federal Funds 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: 5.695% Interest Payment Period: Quarterly
Index Maturity: N/A
Spread (plus or minus): + 0.195%
* On the 6th of June, September, December and at Maturity.
The distribution of Notes will conform to the requirements set forth in Rule
2720 of the NASD Conduct Rules.