By Jennifer Chiou
New York, April 2 - Lehman Brothers Holdings Inc. priced a $2.4 million issue of 15-year non-inversion notes due April 27, 2022 non-callable for three years, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable quarterly. The coupon will be 7.9% for the first three years. Beginning April 27, 2010, the coupon will be 7.9% multiplied by the proportion of days for which the 30-year Constant Maturity Swap (CMS) rate is higher than the two-year CMS rate.
The notes are callable at par on each interest payment date beginning April 27, 2010.
Lehman Brothers Inc. is the manager.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | 15-year callable notes
|
| Underlying asset: | 30-year Constant Maturity Swap rate, two-year CMS rate
|
| Amount: | $2.4 million
|
| Maturity: | April 27, 2022
|
| Coupon: | 7.9% for first three years; beginning April 27, 2010, 7.9% 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 April 27, 2010 at par
|
| Pricing date: | March 30
|
| Settlement date: | April 27
|
| Underwriter: | Lehman Brothers Inc.
|
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