Published on 4/27/2006 in the Prospect News Convertibles Daily.
New Issue: Lehman prices $2.735 million issue of 15.25% Rangers linked to Sirius Satellite
By Angela McDaniels
Seattle, April 27 - Lehman Brothers Holdings Inc. priced a $2.735 million issue of 15.25% Rangers (Risk AdjustiNG Equity Range Securities) due May 1, 2007 linked to Sirius Satellite Radio Inc. stock, according to a 424B5 filing with the Securities and Exchange Commission.
| Issuer: | Lehman Brothers Holdings Inc.
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| Issue: | Rangers (Risk AdjustiNG Equity Range Securities) medium-term senior notes, series H
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| Underlying stock: | Sirius Satellite Radio Inc.
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| Amount: | $2.735 million
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| Maturity: | May 1, 2007
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| Coupon: | 15.25%
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| Price: | Par of $4.88
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| Payout at maturity: | Par unless stock falls below threshold price of $3.416, in which case investors will be fully exposed to any decline; investors will not receive more than par
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| Pricing date: | April 25
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| Settlement date: | April 28
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| Underwriter: | Lehman Brothers Inc.
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