Published on 6/6/2006 in the Prospect News Convertibles Daily.
New Issue: Lehman prices $25 million 1% notes linked to Dow Chemical
By Jennifer Chiou
New York, June 6 - Lehman Brothers Holdings Inc. priced $25 million of 1% notes due June 9, 2009 performance linked to The Dow Chemical Co. stock, according to a 424B5 filing with the Securities and Exchange Commission.
The notes can be exchanged for Dow Chemical stock at a price of $45.6205 per share and automatically exchanged at maturity or redemption if the stock is more valuable than par in cash.
| Issuer: | Lehman Brothers Holdings Inc.
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| Issue: | Performance-linked medium-term senior notes
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| Underlying stock: | The Dow Chemical Co.
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| Amount: | $25 million
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| Greenshoe: | $3.75 million
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| Maturity: | June 9, 2009
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| Coupon: | 1%
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| Price: | Par
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| Exchange premium: | 11.61% (over $40.875 that Lehman paid to hedge the notes)
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| Exchange price: | $45.6205 (automatic exchange at maturity if more valuable)
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| Pricing date: | June 2
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| Settlement date: | June 9
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| Underwriter: | Lehman Brothers
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