Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers L > Headlines for Lehman Brothers Holdings Inc. > News item |
Lehman to price 13.5% reverse convertibles linked to NYSE Euronext
By Jennifer Chiou
New York, Oct. 2 - Lehman Brothers Holdings Inc. plans to price 13.5% annualized reverse convertible notes due April 9, 2008 linked to the common stock of NYSE Euronext, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless NYSE Euronext stock falls by more than 30% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of NYSE Euronext shares equal to $1,000 divided by the initial share price or, at Lehman's option, the equivalent cash value.
The notes are expected to price on Oct. 4 and settle on Oct. 9.
Lehman Brothers Inc. will be the underwriter.
© 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.