By Jennifer Chiou
New York, Feb. 12 - Lehman Brothers Holdings Inc. priced a $3 million issue of 100% principal-protected Foreign Exchange Resetting Range Notes due Feb. 20, 2008 linked to the euro/dollar spot exchange rate, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a fixed coupon of 2.25% for each quarterly interest period that the euro/dollar spot exchange rate remains within the specified reference range, which is initially 1.2586 dollars per euro to 1.3386 dollars per euro.
The reference range will be reset on May 9, Aug. 9 and Nov. 9, 2007, with the upper and lower boundaries set at plus or minus 0.04 dollars per euro, respectively.
If the euro/dollar exchange rate remains within the reference ranges throughout the life of the notes, the total coupon payments will equal 9%.
The payout at maturity will be par.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Foreign Exchange Resetting Range Notes
|
| Underlying exchange rate: | Euro/dollar
|
| Amount: | $3 million
|
| Maturity: | Feb. 20, 2008
|
| Coupon: | 2.25% for each quarterly interest period that the exchange rate remains within the reference range; payable quarterly
|
| Price: | Par
|
| Initial exchange rate: | 1.2986 dollars per euro
|
| Reference range: | 1.2586 dollars per euro to 1.3386 dollars per euro; resets on May 9, Aug. 9 and Nov. 9, 2007 with the upper and lower boundaries set at plus or minus 0.04 dollars per euro, respectively
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 9
|
| Settlement date: | Feb. 20
|
| Underwriter: | Lehman Brothers Inc.
|
| Underwriting discount: | None
|
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