Published on 5/5/2003 in the Prospect News Convertibles Daily.
New Issue: Lehman sells $32.57 million 0.25% notes linked to International Paper
New York, May 5 - Lehman Brothers Holdings Inc. issued $32.57 million of 0.25% notes linked to International Paper Co. common stock, according to a filing with the Securities and Exchange Commission.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Senior notes performance linked to International Paper Co. common stock
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Amount: | $32.57 million
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Greenshoe: | $4.8855 million
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Maturity: | May 8, 2010
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Coupon: | 0.25%
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Price: | Par
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Exchange premium: | 11.35% above $34.9074 paid by an affiliate of Lehman to hedge its obligations under the notes
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Exchange price: | $38.86939 in cash
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Exchange ratio: | 25.727 (at any time)
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Payout at maturity: | Exchange value, minimum of par
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Call: | May 1, 2006 onwards at onwards at exchange price
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Pricing date: | May 1
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Settlement: | May 8
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Underwriter: | Lehman Brothers
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