By E. Janene Geiss
Philadelphia, March 256 - Lehman Brothers Holdings Inc. priced a $700,000 million issue of 100% principal protected "Wedding Cake" notes due March 28, 2008 linked to six-month Libor, according to an FWP filing with the Securities and Exchange Commission.
At maturity, investors will receive par plus 10% if at all times during the life of the notes six-month Libor remains within the narrowest barrier range, 5.25% to 5.50%.
Investors will receive par plus 8% if six-month Libor remains with the middle barrier range, 5.125% to 5.625%.
Investors will receive par plus 6% if six-month Libor remains within the broadest barrier range, 4.75% to 5.75%.
If crude oil moves outside that range, payout at maturity will be par.
Lehman Brothers Inc. is underwriter.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | 100% principal protected "Wedding Cake" notes
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Underlying asset: | Six-month Libor
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Amount: | $700,000
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Maturity: | March 28, 2008
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Price: | Par
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Payout at maturity: | Payout will be par plus 10% if six-month Libor remains within the narrowest barrier range, 5.25% to 5.50%; par plus 8% if six-month Libor remains within the middle barrier range, 5.125% to 5.625%; and par plus 6% if Libor remains within the broadest barrier range, 4.75% to 5.75%. ; par if six-month Libor moves outside range
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Pricing date: | March 22
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Settlement date: | March 28
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Underwriter: | Lehman Brothers Inc.
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