Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Home Depot, Inc. > News item |
Lehman plans annual review notes linked to Home Depot
By Laura Lutz
Des Moines, Feb. 4 - Lehman Brothers Holdings Inc. plans to price 0% annual review notes with contingent protection due Feb. 27, 2011 linked to the common stock of Home Depot, Inc., according to an FWP filing with the Securities and Exchange Commission.
The notes will be automatically called if Home Depot stock closes above its initial price on any of four annual review dates. In that case, the redemption amount will be par plus 16.25% for each year that the notes were held.
If the notes are not called early and the stock does not close below 75% of its initial price during the life of the notes, the payout at maturity will be par.
If the notes are not called early and the stock does close below 75% at some point, the payout will be a number of Home Depot shares equal to par divided by the initial price.
The notes are expected to price on Feb. 22 and settle on Feb. 27.
Lehman Brothers Inc. is the underwriter.
© 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.