By E. Janene Geiss
Philadelphia, Dec. 19 - Lehman Brothers Holdings Inc. priced an additional $725,000 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 $2,725,000. The notes initially priced on Dec. 11 at $2 million.
The notes will pay interest at 9% per year for the first six months. Beginning June 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 any interest payment date beginning June 28, 2008.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Steepener notes
|
| Amount: | $2,725,000
|
| Maturity: | Dec. 28, 2022
|
| Coupon: | 9% for first six months; beginning June 28, 2008, 50 times the spread of the 30-year CMS rate over the 10-year CMS rate; minimum of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest
|
| Call: | At par on any interest payment date beginning June 28, 2008
|
| Pricing date: | Dec. 11 at $2 million; (Dec. 18 for additional $725,000)
|
| Settlement date: | Dec. 28
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 1.05%
|
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