By Laura Lutz
Des Moines, Nov. 29 - Lehman Brothers Holdings Inc. priced a $709,000 issue of 9.5% reverse exchangeable notes due Nov. 28, 2008 linked to the common stock of Pfizer Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Pfizer stock falls below the knock-in price of $19.448 - 85% of the initial value - during the life of the notes and finishes below its initial price, the payout at maturity will be a number of Pfizer shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
Lehman Brothers Inc. is the agent.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Reverse exchangeable notes
|
| Underlying stock: | Pfizer Inc. (Symbol: PFE)
|
| Amount: | $709,000
|
| Maturity: | Nov. 28, 2008
|
| Coupon: | 9.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If Pfizer stock falls below the knock-in price of $19.448 during the life the notes and finishes below its initial value, a number of shares equal to par divided by the initial price; otherwise, par
|
| Initial price: | $22.88
|
| Knock-in price: | $19.448, 85% of $22.88
|
| Pricing date: | Nov. 27
|
| Settlement date: | Nov. 30
|
| Agent: | Lehman Brothers Inc.
|
| Fees: | 2.9%
|
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