Published on 2/28/2007 in the Prospect News Structured Products Daily.
New Issue: Lehman Brothers sells $500,000 barrier notes linked to crude oil
By E. Janene Geiss
Philadelphia, Feb. 28 - Lehman Brothers Holdings Inc. priced a $500,000 issue of 0% single barrier notes due April 15, 2008 linked to the price of light sweet crude oil, according to an FWP filing with the Securities and Exchange Commission.
At maturity, investors will receive par plus 70% of the return on crude oil if the price of crude stays below the upper barrier of $85.95 - 140% of the initial price - on each business day during the life of the notes. Investors will receive a minimum of par.
Lehman Brothers is the agent.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Single barrier notes
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Underlying asset: | Light sweet crude oil
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Amount: | $500,000
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Maturity: | April 15, 2008
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 70% of the return on crude oil if the price of crude stays below the upper barrier of $85.95 - 140% of the initial price - on each business day during the life of the notes. Investors will receive a minimum of par
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Initial price: | $61.39
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Upper barrier: | $85.95, initial price multiplied by 140%
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Pricing date: | Feb. 26
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Settlement date: | March 9
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Underwriter: | Lehman Brothers Inc.
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