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 |
New Issue: Lehman prices $872,000 10.05% reverse exchangeables linked to Virgin Media
By Susanna Moon
Chicago, Oct. 30 - Lehman Brothers Holdings Inc. priced an $872,000 issue of 10.05% reverse exchangeable notes due Jan. 31, 2008 linked to the common stock of Virgin Media Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the stock falls by more than 30% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Virgin Media shares equal to $1,000 divided by the initial share price or, at the bank's option, the equivalent cash value.
Lehman Brothers Inc. is the underwriter.
Issuer: Lehman Brothers Holdings Inc.
Issue: Reverse exchangeable notes
Underlying stock: Virgin Media Inc. (Nasdaq: VMED)
Amount: $872,000
Maturity: Jan. 31, 2008
Coupon: 10.05%, payable monthly
Price: Par
Payout at maturity: If the stock falls below the trigger price during the life of the notes and finishes below the initial share price, a number of shares equal to $1,000 divided by the initial share price or the equivalent cash value; otherwise, par
Initial share price: $22.13
Trigger price: $15.491, or 70% of initial share price
Pricing date: Oct. 26
Settlement date: Oct. 31
Underwriter: Lehman Brothers Inc.
Fees: 1.8%
© 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.