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Lehman to price 0% Yeelds linked to AMD stock
By Angela McDaniels
Seattle, Feb. 24 - Lehman Brothers Holdings Inc. is planning to price an issue of 0% Yeelds (Yield Enhanced Equity-Linked Debt Securities) due Aug. 29, 2006 performance linked to Advanced Micro Devices Inc. stock, according to a 424B5 filing with the Securities and Exchange Commission.
The payout will be based on the performance of Advanced Micro Devices stock on the valuation date, Aug. 22, 2006.
If the stock price does not fall below the trigger price, which will be 59.05% of the initial value, at any time during the life of the notes, payout at maturity will be the final value of Advanced Micro Devices stock, capped at 120% of par, payable in cash or shares at Lehman's option.
Lehman Brothers, the underwriter, will have an over-allotment option.
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