Published on 7/24/2007 in the Prospect News Structured Products Daily.
New Issue: Lehman sells $3.52 million 9.25% reverse exchangeables linked to H&R Block
By Laura Lutz
Des Moines, July 24 - Lehman Brothers Holdings Inc. priced a $3.52 million issue of 9.25% reverse exchangeable notes due July 25, 2008 linked to the common stock of H&R Block, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless H&R Block stock falls below the knock-in price of $16.395 - 75% of the initial share price - during the life of the notes and finishes below its initial share price of $21.86, in which case the payout will be a number of H&R Block 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: | H&R Block, Inc.
|
Amount: | $3.52 million
|
Maturity: | July 25, 2008
|
Coupon: | 9.25%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par unless H&R Block stock falls below the knock-in price of $16.395 during the life of the notes and finishes below its initial share price, in which case payout will be a number of shares equal to $1,000 divided by the initial share price
|
Initial share price: | $21.86
|
Knock-in price: | $16.395, 75% of $21.86
|
Pricing date: | July 20
|
Settlement date: | July 25
|
Underwriter: | Lehman Brothers Inc.
|
Fees: | 3.5%
|
© 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.