New Issue: Lehman prices $0.722 million 12% reverse convertibles linked to NYSE Euronext

New York, May 8 - Lehman Brothers Holdings Inc. priced $0.722 million of 12% reverse convertible notes due Aug. 29, 2008 linked to NYSE Euronext stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless NYSE Euronext stock falls below the protection price of $54.945, 75% of the initial price of $73.26, during the life of the notes and finishes below the initial price in which case the payout will be NYSE Euronext shares equal to $1,000 principal amount divided by the initial price.

Lehman Brothers is the agent.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Reverse convertible notes
Underlying stock:	NYSE Euronext (Symbol: NYX)
Amount:	$0.722 million
Maturity:	Aug. 29, 2008
Coupon:	12%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless NYSE Euronext stock falls below the protection price of $54.945, 75% of the initial price, and finishes below the initial price, in which case NYSE Euronext shares equal to $1,000 principal amount divided by the initial price
Initial price:	$73.26
Protection price:	$54.945, 75% of $73.26
Pricing date:	May 7
Settlement date:	May 12
Agent:	Lehman Brothers
Fees:	2.5%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.