By E. Janene Geiss
Philadelphia, Nov. 28 - Lehman Brothers Holdings Inc. priced an additional $1 million of steepener notes due Dec. 28, 2022, according to an FWP filing with the Securities and Exchange Commission.
The add-on brings the total offering to $3 million. The notes originally priced Nov. 27 at $2 million.
The notes will accrue interest at 10% for the first year. Beginning Dec. 28, 2008, the interest rate will be reset quarterly and will equal 50 times the spread of the 30-year Constant Maturity Swap (CMS) rate over the 10-year CMS rate, subject to a minimum interest rate of 0%.
Interest is payable quarterly.
The notes are callable at par on each interest payment date beginning Dec. 28, 2008.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Steepener notes
|
| Amount: | $3 million (up from $2 million)
|
| Maturity: | Dec. 28, 2022
|
| Coupon: | 10% until Dec. 28, 2008; 50 times the spread of the 30-year CMS rate over the 10-year CMS rate after that; minimum of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest
|
| Call: | At par on each interest payment date beginning Dec. 28, 2008
|
| Pricing date: | Nov. 27
|
| Settlement date: | Dec. 28
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 1.5%
|
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