By Jennifer Chiou
New York, May 29 - Lehman Brothers Holdings Inc. priced a $5.925 million issue of 10.5% reverse exchangeable notes due May 30, 2008 linked to the common stock of Foster Wheeler Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless Foster Wheeler stock falls below the knock-in price of $58.992 - 60% of the initial share price - during the life of the notes and finishes below its initial share price of $98.32, in which case the payout will be a number of Foster Wheeler shares equal to $1,000 divided by the initial share price.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Reverse exchangeable notes
|
| Underlying stock: | Foster Wheeler Ltd.
|
| Amount: | $5.925 million
|
| Maturity: | May 30, 2008
|
| Coupon: | 10.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Foster Wheeler stock falls below the knock-in price of $58.992 during the life of the notes and finishes below its initial share price, in which case payout will be a number of Foster Wheeler shares equal to $1,000 divided by the initial share price
|
| Initial share price: | $98.32
|
| Knock-in price: | $58.992, 60% of $98.32
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 2.75%
|
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