Published on 6/8/2007 in the Prospect News Structured Products Daily.
New Issue: Lehman prices $8 million 9% Yeelds linked to Six Flags
By Jennifer Chiou
New York, June 8 - Lehman Brothers Holdings Inc. priced an $8,000,001 issue of 9% notes due June 12, 2008 structured as Yield Enhanced Equity Linked Debt Securities (Yeelds) linked to Six Flags, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
At maturity, investors will receive the value of one share of Six Flags stock, capped at $9.246, which is 138% of the initial value of $6.70 that Lehman paid to hedge the transaction. The payout will be payable in stock or cash.
Lehman Brothers Inc. is the underwriter.
Issuer: | Lehman Brothers Holdings Inc.
|
Issue: | Yeelds (Yield Enhanced Equity Linked Debt Securities) medium-term senior notes, series I
|
Underlying stock: | Six Flags, Inc.
|
Amount: | $8,000,001
|
Greenshoe: | $1,199,996.80
|
Maturity: | June 12, 2008
|
Coupon: | 9%, payable monthly
|
Price: | Par of $6.70
|
Payout at maturity: | Value of one share of Six Flags stock, capped at $9.246, payable in stock or cash
|
Cap price: | $9.246, 138% of initial value
|
Pricing date: | June 7
|
Settlement date: | June 12
|
Underwriter: | Lehman Brothers Inc.
|
Fees: | None
|
© 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.