By Laura Lutz
Des Moines, Dec. 11 - Lehman Brothers Holdings Inc. priced a $2.64 million issue of 33.5% reverse exchangeable notes due March 12, 2008 linked to the common stock of Research In Motion Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If Research In Motion stock falls below the knock-in price of $72.555 - 70% of the initial value - during the life of the notes and finishes below its initial price of $103.65, the payout at maturity will be a number of Research In Motion shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Reverse exchangeable notes
|
| Underlying stock: | Research In Motion Ltd. (Symbol: RIMM)
|
| Amount: | $2,641,000
|
| Maturity: | March 12, 2008
|
| Coupon: | 33.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If Research In Motion stock falls below the knock-in price of $72.555 during the life of the notes and finishes below its initial value, a number of shares equal to par divided by the initial share price; otherwise, par
|
| Initial price: | $103.65
|
| Knock-in price: | $72.555, 70% of $103.65
|
| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 12
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 2.03%
|
© 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.
