Published on 3/18/2003 in the Prospect News Convertibles Daily.
New Issue: Lehman sells $15 million 10% Yeelds linked to CIT
New York, March 18 - Lehman Brothers Holdings Inc. sold $15 million of 10% yield enhanced equity-linked debt securities (Yeelds) performance linked to CIT Group Inc. common stock, according to a filing with the Securities and Exchange Commission.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Yield Enhanced Equity Linked Debt Securities (Yeelds)
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Amount: | $15 million
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Greenshoe: | $2.25 million
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Maturity: | March 21, 2004
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Coupon: | 10%, payable quarterly
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Price: | Par
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Payout at maturity: | Par multiplied by price of CIT Group common stock on valuation date of March 15, 2004 divided by $17.25, capped at $1,212.50 per $1,000 principal amount
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Settlement: | March 21
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Pricing date: | March 14
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Underwriter: | Lehman Brothers
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