By E. Janene Geiss
Philadelphia, April 3 - Lehman Brothers Holdings Inc. reopened to upsize by $500,000 a $4 million issue of 100% principal-protected Foreign Exchange Multi-Range Notes due Oct. 2, 2007 linked to the pound/dollar spot exchange rate, according to an FWP filing with the Securities and Exchange Commission.
The total issue amount is now $4.5 million.
Payout at maturity will be par plus an additional amount if the pound/dollar spot exchange rate remains within the initial range, or if it trades below the lower barrier and then remains within a new low range, or if it trades above the upper barrier and the remains with a new high range.
The initial range is 1.9649 plus 0.04 to minus 0.06. The lower barrier is the exchange rate plus 0.04 and the new low range is 0.05 either side of the lower barrier. The upper barrier is the exchange rate minus 0.06 and the new high range is 0.05 either side of the upper barrier.
The additional amount is 6.25%.
If the tests are not met, investors will receive par at maturity.
There will be no interest payments.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Foreign Exchange Range Notes
|
| Underlying exchange rate: | pound sterling/dollar
|
| Amount: | $4.5 million
|
| Maturity: | Oct. 2, 2007
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 6.25% if the exchange rate remains within the initial range of 1.9049 to 2.0049; par plus 6.25% if the rate trades below the lower barrier of 1.9049 but then stays between 1.8549 to 1.9549, the adjusted low range; par plus 6.25% if the rate trades above the upper barrier of 2.0049 but then stays between 1.9549 to 2.0549, the adjusted high range; otherwise par
|
| Initial exchange rate: | 1.9649 dollars per pound sterling
|
| Initial reference range: | 1.9049 dollars per pound to 2.0049 dollars per pound
|
| Adjusted low range: | 1.8549 dollars per pound to 1.9549 dollars per pound
|
| Adjusted high range: | 1.9549 dollars per pound to 2.0549 dollars per pound
|
| Pricing date: | April 2 (for $0.5 million add on, original $4 million on March 27)
|
| Settlement date: | April 5
|
| Underwriter: | Lehman Brothers Inc.
|
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