By E. Janene Geiss
Philadelphia, Jan. 23 - Lehman Brothers Holdings Inc. increased to $10 million its issue of 15-year notes due Jan. 25, 2022 non-callable for one year, according to an FWP filing with the Securities and Exchange Commission.
The latest increase adds a further $1 million. The deal was previously expanded from the original size of $7 million.
The notes will pay 10% annually until Jan. 25, 2008, at which point the interest rate will be reset quarterly and will equal 50 multiplied by the spread of the 30-year CMS (constant maturity swap) rate over the 10-year CMS rate.
Interest will be paid quarterly.
The notes are callable at par on interest payment dates beginning on Jan. 25, 2008.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | 15-year callable notes
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Amount: | $1 million in this tranche, $10 million total
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Maturity: | Jan. 25, 2022
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Coupon: | 10% until Jan. 25, 2008; 50 times the 30-year CMS rate minus the 10-year CMS rate after that
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Price: | Variable prices
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Payout at maturity: | Par
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Callable: | At par on interest payment dates beginning Jan. 25, 2008
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Pricing date: | Jan. 2
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Settlement date: | Jan. 25
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Agent: | Lehman Brothers Inc.
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