By Laura Lutz
Des Moines, Oct. 30 - Lehman Brothers Holdings Inc. priced $3.31 million of zero-coupon 100% principal protection autocallable absolute return barrier notes due Oct. 24, 2008 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par if the index ever closes below the lower barrier level or above the upper barrier level during the life of the notes. The lower and upper barrier levels are 15% below and above par, respectively.
If the notes are not called, the payout at maturity will be par plus the absolute value of the index return.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | 100% principal protection autocallable absolute return barrier notes
|
| Underlying index: | S&P 500
|
| Amount: | $3,305,000
|
| Maturity: | Oct. 24, 2008
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus absolute value of the index return
|
| Call: | At par if index closes below lower barrier or above upper barrier
|
| Initial index level: | 1,535.28
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 0.75%
|
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