By Angela McDaniels
Seattle, Jan. 16 - Lehman Brothers Holdings Inc. priced a $3 million issue of Range Notes due Jan. 26, 2017 linked to the six-month Libor, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable quarterly. The coupon amount for each quarter will be 7% multiplied by the interest accrual factor, which equals the number of days during that quarter that the six-month Libor was greater than or equal to the lower Libor barrier and less than or equal to the upper Libor barrier divided by the total number of days in that quarter.
The upper Libor barrier is 7% and the lower Libor barrier is 0%.
The payout at maturity will be par. The notes are callable at par on each interest payment date beginning April 26, 2007.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Range Notes
|
| Underlying interest rate: | Six-month Libor
|
| Amount: | $3 million
|
| Maturity: | Jan. 26, 2017
|
| Coupon: | 7% multiplied by the interest accrual factor
|
| Interest accrual factor: | Percentage of days in each quarter that the six-month Libor remained within the upper and lower Libor barriers
|
| Upper Libor barrier: | 7%
|
| Lower Libor boundary: | 0%
|
| Price: | 99.25%
|
| Payout at maturity: | Par
|
| Call: | On interest payment dates starting April 26, 2007 at par
|
| Pricing date: | Jan. 12
|
| Settlement date: | Jan. 26
|
| Underwriter: | Lehman Brothers Inc.
|
© 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.
