Published on 11/13/2007 in the Prospect News Structured Products Daily.
New Issue: Lehman Brothers upsizes to $3.6 million dual participation notes linked to crude oil
By E. Janene Geiss
Philadelphia, Nov. 13 - Lehman Brothers Holdings Inc. priced an additional $580,000 of zero-coupon 100% principal-protected dual participation notes due Nov. 14, 2012 linked to the price of crude oil, according to an FWP filing with the Securities and Exchange Commission.
The issue was upsized Nov. 9, bringing the total amount of the offering to $3,595,000. The notes originally priced Nov. 7 at $3,015,000.
If the price of crude oil increases, the payout at maturity will be par plus 1.5% for each 1% increase. If the price of crude oil decreases, the payout will be par plus 0.5% for each 1% decline.
Lehman Brothers Inc. is the underwriter.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | 100% principal-protected dual participation notes
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Underlying commodity: | Crude oil
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Amount: | $3,595,000, up from $3,015,000
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Maturity: | Nov. 14, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any crude oil price increase; par plus 50% of the absolute value of any crude oil price decrease
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Initial crude oil price: | $96.37 per barrel
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Pricing date: | Nov. 7
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Settlement date: | Nov. 14
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Underwriter: | Lehman Brothers Inc.
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Fees: | 3%
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