By E. Janene Geiss
Philadelphia, Feb. 28 - Lehman Brothers Holdings Inc. priced a $173,000 issue of 13.75% reverse exchangeable notes due Feb. 27, 2009 linked to the common stock of Foster Wheeler Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If Foster Wheeler stock falls below the knock-in price of $43.719 - 65% of the initial value - during the life of the notes and finishes below its initial price of $67.26, the payout at maturity will be a number of Foster Wheeler shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Reverse exchangeable notes
|
| Underlying stock: | Foster Wheeler Ltd. (Nasdaq: FWLT)
|
| Amount: | $173,000
|
| Maturity: | Feb. 27, 2009
|
| Coupon: | 13.75%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If Foster Wheeler stock falls below the knock-in price of $43.719 during the life of the notes and finishes below its initial value, a number of shares equal to par divided by the initial share price; otherwise, par
|
| Initial price: | $67.26
|
| Knock-in price: | $43.719, 65% of $67.26
|
| Pricing date: | Feb. 26
|
| Settlement date: | Feb. 29
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 3.75%
|
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