Lehman Brothers to price absolute return barrier notes linked to S&P 500

By Angela McDaniels

Seattle, Oct. 15 - Lehman Brothers Holdings Inc. plans to price zero-coupon 100% principal-protected autocallable absolute return barrier notes due Oct. 24, 2008 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to price Oct. 26 and settle Oct. 31.

If the index ever closes above the upper index barrier or below the lower index barrier, the notes will be called and investors will receive par. The upper and lower index barriers will be 14% to 16% above and below the initial index level, respectively, and will be determined at pricing.

If the notes are not called, the payout at maturity will be par plus the absolute value of the index return.

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.