By E. Janene Geiss
Philadelphia, Feb. 23 - Lehman Brothers Holdings Inc. priced a $10 million issue of 15-year non-inversion notes due March 5, 2022 non-callable for three years, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable semi-annually. The coupon amount will be 8% to March 5, 2009. After that, the coupon is 8% multiplied by the proportion of days for which the 30-year Constant Maturity Swap (CMS) rate is higher than the 2-year CMS rate.
The notes are callable at par on each interest payment date beginning March 5, 2010.
Lehman Brothers Inc. is manager.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | 15-year callable notes
|
| Underlying asset: 30-year Constant Maturity Swap rate, 2-year CMS rate
|
| Amount: | $10 million
|
| Maturity: | March 5, 2022
|
| Coupon: | 8% to March 5, 2009; after that, 8% multiplied by the proportion of days for which the 30-year Constant Maturity Swap (CMS) rate is higher than the 2-year CMS rate
|
| Price: | Par
|
| Call: | On interest payment dates starting March 5, 2010 at par
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 5
|
| Underwriter: | Lehman Brothers Inc.
|
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