New Issue: Lehman prices $5 million 0% up 13.85% notes linked to Teva

New York, Dec. 22 - Lehman Brothers Holdings Inc. priced $5 million of 0% seven-year notes performance linked to Teva Pharmaceutical Industries Ltd. American Depositary Shares, according to a 424B5 filing with the Securities and Exchange Commission.

The notes have a cash or stock payout at maturity linked to Teva and can be converted at any time for stock at the holder's option.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Performance-linked medium-term senior notes
Underlying stock:	Teva Pharmaceutical Industries Ltd. American Depositary Shares
Amount:	$5 million
Greenshoe:	$0.75 million
Maturity:	Dec. 28, 2011
Coupon:	0%
Price:	Par
Yield:	0%
Exchange premium:	13.85%
Exchange price:	$33.67683
Exchange ratio:	37.4414, for stock, at any time
Payout at maturity:	Greater of par in cash or percentage appreciation above exchange price (13.85% above $29.58 price Lehman paid to hedge notes) in cash or stock at Lehman's option
Call:	Dec. 20, 2007 onwards with same payout calculation as at maturity
Dividend protection:	Conversion ratio adjustment
Pricing date:	Dec. 20
Settlement date:	Dec. 28
Underwriter:	Lehman Brothers
Distribution:	Off shelf

© 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.