THE BEAR STEARNS COMPANIES INC. IncomeNotesSM With Maturities of Nine Months or More from Date of Issu Registration No. 333-121744 Filed Pursuant to Rule 424(b)(3) Pricing Supplement No. 15 (To Prospectus dated February 2, 2005, and Prospectus Supplement dated February 2, 2005) Trade Date: March 24, 2006 Issue Date: March 31, 2006 The date of this Pricing Supplement is March 24, 2006 ------------------------------------------------------------------------------------------------------------------------- Interest Maturity Price to Discounts & Payment CUSIP# Interest Rate Date Public Commissions Reallowance Dealer Frequency ------------------------------------------------------------------------------------------------------------------------- 07387EHS9 6.000% 03/31/2026 100.00% 2.4250% 0.200% 97.575% Semi Annually ------------------------------------------------------------------------------------------------------------------------- Subject to Redemption -------------------------------------------------------------------------------------------------------------------------- First Interest Aggregate First Interest Payment Survivor's Principal Payment Date Amount Option Yes/No Date and Terms of Redemption Amount Net Proceeds -------------------------------------------------------------------------------------------------------------------------- 09/30/2006 $30.00 No Yes Commencing on 03/31/2010 and semi annually $10,000,000 $9,757,500 thereafter until Maturity, the Notes may be called in whole at par at the option of the Company on ten calendar days notice. -------------------------------------------------------------------------------------------------------------------------- *** The distribution of IncomeNotes will conform to the requirements set forth in Rule 2720 of the NASD Conduct Rules.