By E. Janene Geiss
Philadelphia, April 10 - Lehman Brothers Holdings Inc. priced a $3.1 million issue of 11.25% reverse exchangeable notes due April 23, 2008 linked to the common stock of Silver Wheaton Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless Silver Wheaton stock falls below the knock-in price of $6.41 - 60% of the initial share price - during the life of the notes and finishes below its initial price of $10.69, in which case the payout will be a number of Silver Wheaton shares equal to $1,000 divided by the initial share price.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Reverse exchangeable notes
|
| Underlying stock: | Silver Wheaton Corp.
|
| Amount: | $3.1 million
|
| Maturity: | April 23, 2008
|
| Coupon: | 11.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Silver Wheaton stock falls below the knock-in price of $6.41 during the life of the notes and finishes below its initial share price, in which case payout will be 93.545 Silver Wheaton shares
|
| Initial share price: | $10.69
|
| Knock-in price: | $6.41, 60% of $10.69
|
| Pricing date: | April 9
|
| Settlement date: | April 23
|
| Underwriter: | Lehman Brothers Inc.
|
| Commission: | 3.25%
|
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