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 ----------------------------------------------------------------------------------------------------------------------------------- Interest Maturity Price to Discounts & Payment CUSIP# Interest Rate Date Public Commissions Reallowance Dealer Frequency ----------------------------------------------------------------------------------------------------------------------------------- 07387EFL6 6.20% 6/15/2029 100.00% 2.50% 0.350% 98.00% Semi ----------------------------------------------------------------------------------------------------------------------------------- Subject to Redemption --------------------- ------------------------------------------------------------------------------------------------------------------------------------ Aggregate First Interest First Interest Survivor's Principal Payment Date Payment Amount Option Yes/No Date and Terms of Redemption Amount Net Proceeds ------------------------------------------------------------------------------------------------------------------------------------ 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. ------------------------------------------------------------------------------------------------------------------------------------ *** The distribution of IncomeNotes will conform to the requirements set forth in Rule 2720 of the NASD Conduct Rules.