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. 27
(To Prospectus dated November 17, 2003,
and Prospectus Supplement dated November 17, 2003)
Trade Date: June 14, 2004
Issue Date: June 17, 2004
The date of this Pricing Supplement is June 14, 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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  07387EFL6                 6.20%             6/15/2029        100.00%         2.50%          0.350%        98.00%       Semi
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                                                 Subject to Redemption
                                                 ---------------------
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                                                                                                          Aggregate
First Interest   First Interest    Survivor's                                                             Principal
 Payment Date    Payment Amount      Option      Yes/No     Date and Terms of Redemption                   Amount      Net Proceeds
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 12/15/2004          $30.66           Yes         Yes       Commencing  on 6/15/2009 and on the 15th of   $5,607,000    $3,466,825
                                                            each month thereafter until Maturity, the
                                                            Notes may be called in whole at par at the
                                                            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.