By Jennifer Chiou
New York, July 30 - Lehman Brothers Holdings Inc. priced a $0.515 million issue of 13.5% reverse exchangeable notes due July 31, 2008 linked to the common stock of Ford, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless Ford stock falls below the knock-in price of $6.472 - 80% of the initial value - during the life of the notes and finishes below its initial price of $8.09, in which case the payout will be a number of Ford shares equal to $1,000 divided by the initial share price.
Lehman Brothers is the agent.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Reverse exchangeable notes
|
| Underlying stock: | Ford Motor Co.
|
| Amount: | $0.515 million
|
| Maturity: | July 31, 2008
|
| Coupon: | 13.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Ford stock falls below the knock-in price of $6.472 during the life of the notes and finishes below its initial value, in which case payout will be a number of shares equal to $1,000 divided by the initial share price
|
| Initial price: | $8.09
|
| Knock-in price: | $6.472, 80% of $8.09
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agent: | Lehman Brothers
|
| Fees: | 2.97%
|
© 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.
