Lehman plans to price bearish autocallable securities linked to S&P Consumer Discretionary index via UBS

By E. Janene Geiss

Philadelphia, Dec. 3 - Lehman Brothers Holdings Inc. plans to price an issue of bearish autocallable optimization securities with contingent protection due June 30, 2009 linked to the S&P 500 Consumer Discretionary Index, according to an FWP filing with the Securities and Exchange Commission.

UBS Financial Services Inc. and Lehman Brothers Inc. are the agents.

The notes will be automatically called if the index shows a negative return on any of the quarterly observation dates between March 2008 and June 2009. If the notes are called, the redemption amount will be par of $10.00 plus a return expected to be between 26% and 30%, with the exact return to be determined at pricing.

If, during the life of the notes, the index has ever closed above the trigger level - 140% of its initial level - the payout at maturity will be par plus the index return. Otherwise, the payout will be par.

The notes are expected to price Dec. 17 and settle Dec. 20.

© 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.