PRICING SUPPLEMENT NO. 12 Rule 424(b)(3)
DATED: June 9, 2003 File No. 333-104455
(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: $25,000,000 Floating Rate Notes [x] Book Entry Notes [x]
Original Issue Date: 6/11/2003 Fixed Rate Notes [ ] Certificated Notes [ ]
Maturity Date: 6/10/2005 CUSIP#: 073928ZV8
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%
* 9/11/03, 12/11/03, 3/11/04, 6/11/04, 9/11/04, 12/11/04, 3/11/05 and
6/10/05.
At February 28, 2003:
o the Company had outstanding (on an unconsolidated basis) approximately
$37.4 billion of debt and other obligations, including approximately $34.3
billion of unsecured senior debt and $2.6 billion of unsecured
inter-company debt; and
o subsidiaries of the Company had outstanding (after elimination of
inter-company items) approximately $145.5 billion of debt and other
obligations (including $47.9 billion related to securities sold under
repurchase agreements, $52.9 billion related to payables to customers,
$26.4 billion related to financial instruments sold, but not yet
purchased, and $18.3 billion of other liabilities, including $13.6 billion
of debt).
The distribution of Notes will conform to the requirements set forth in Rule
2720 of the NASD Conduct Rules.