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. 48
(To Prospectus dated November 17, 2003,
and Prospectus Supplement dated November 17, 2003)
Trade Date: November 15, 2004
Issue Date: November 18, 2004
The date of this Pricing Supplement is November 15, 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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07387EGN1 5.60% 11/15/2029 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 Principal
Payment Date Amount Option Yes/No Date and Terms of Redemption Amount Net Proceeds
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5/15/2005 $27.53 Yes Yes Commencing on 11/15/2009 and on the 15th $2,925,000 $2,851,875
of 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.