Published on 3/20/2006 in the Prospect News Convertibles Daily.
New Issue: Lehman prices $51.945 million 1% notes linked to Microsoft
By Jennifer Chiou
New York, March 20 - Lehman Brothers Holdings Inc. priced $51.945 million 1% notes due March 23, 2009 performance linked to Microsoft Corp. stock, according to a 424B5 filing with the Securities and Exchange Commission.
The notes can be exchanged for Microsoft stock at a price of $31.0763 per share and automatically exchange at maturity or redemption if the stock is more valuable than par in cash.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Performance-linked medium-term senior notes
|
| Underlying stock: | Microsoft Corp.
|
| Amount: | $51.945 million
|
| Greenshoe: | $7,791,750
|
| Maturity: | March 23, 2009
|
| Coupon: | 1%
|
| Price: | Par
|
| Exchange premium: | 13.5% (over $27.38 that Lehman paid to hedge the notes)
|
| Exchange price: | $31.0763 (automatic exchange at maturity if more valuable)
|
| Pricing date: | March 16
|
| Settlement date: | March 23
|
| Underwriter: | Lehman Brothers
|
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