Published on 6/11/2007 in the Prospect News Structured Products Daily.
New Issue: Lehman sells $300,000 10.75% reverse exchangeables linked to FedEx
By Laura Lutz
Des Moines, June 11 - Lehman Brothers Holdings Inc. priced a $300,000 issue of 10.75% reverse exchangeable notes due Dec. 12, 2007 linked to the common stock of FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless FedEx stock falls below the knock-in price of $91.29 - 85% of the initial share price - during the life of the notes and finishes below its initial share price of $107.40, in which case the payout will be a number of FedEx shares equal to $1,000 divided by the initial share price.
Lehman Brothers is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Reverse exchangeable notes
|
| Underlying stock: | FedEx Corp.
|
| Amount: | $300,000
|
| Maturity: | Dec. 12, 2007
|
| Coupon: | 10.75%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless FedEx stock falls below the knock-in price of $91.29 during the life the notes and finishes below its initial share price, in which case payout will be 9.31099 FedEx shares
|
| Initial share price: | $107.40
|
| Knock-in price: | $91.29, 85% of $107.40
|
| Pricing date: | June 7
|
| Settlement date: | June 12
|
| Underwriter: | Lehman Brothers
|
| Fees: | 0.5%
|
© 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.
