New York, May 8 - Lehman Brothers Holdings Inc. priced a $10 million issue of index spread notes due May 17, 2022 linked to Libor and the BMA municipal swap rate, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay 9.275% interest plus 10 times the difference between 65% of three month Libor and the average BMA municipal swap index. The coupon will be capped at 11.34%.
Interest will be payable semi-annually.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Index spread notes
|
| Underlying rates: | Three-month Libor, average BMA municipal swap index
|
| Amount: | $10 million
|
| Maturity: | May 17, 2022
|
| Coupon: | 9.275% plus 10 times the difference between 65% of three-month Libor and the average BMA municipal swap index, capped at 11.34%
|
| Interest rate cap: | 11.34%
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | May 7
|
| Settlement date: | May 17
|
| Underwriter: | Lehman Brothers Inc.
|
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