Published on 10/3/2003 in the Prospect News Convertibles Daily.
New Issue: Lehman prices $16.58 million 8.25% Pies linked to Raytheon
New York, Oct. 3 - Lehman Brothers Holdings Inc. priced $16.58 million 8.25% Premium Income Exchangeable Securities (Pies) linked to Raytheon Co. common stock, according to a filing with the Securities and Exchange Commission.
Issuer: | Lehman Brothers Holdings Inc.
|
Issue: | Premium Income Exchangeable Securities (Pies) medium-term notes
|
Underlying stock: | Raytheon Co.
|
Amount: | $16.5825 million (proceeds), $16.5 million (principal)
|
Greenshoe: | $2.4874 million (proceeds), $2.475 million (principal)
|
Maturity: | May 15, 2004
|
Coupon: | 8.25%, payable quarterly beginning Nov. 15, 2003 (short first coupon)
|
Price: | 100.5 ($50.25 versus par of $50)
|
Payout at maturity: | 1.8182 shares if Raytheon Co. stock is below $27.50
|
| 1.4903 shares if Raytheon Co. stock is above $33.55
|
| Otherwise par
|
| Payable in cash or stock, at holder's option
|
Put: | May 5, 2004 in stock at 1.4903 shares per note
|
Pricing date: | Oct. 1
|
Settlement: | Oct. 8
|
Underwriter: | Lehman Brothers
|
|
© 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.