By E. Janene Geiss
Philadelphia, May 16 - Lehman Brothers Holdings Inc. priced a $5 million issue of 15-year non-inversion notes due May 24, 2022 that is non-callable for three years, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable quarterly. The coupon amount will be 8% to May 24, 2008. After that, the coupon is 8% 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 May 24, 2008.
Lehman Brothers Inc. is manager.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | 15-year callable notes
|
| Underlying asset: | 30-year Constant Maturity Swap rate, two-year CMS rate
|
| Amount: | $5 million
|
| Maturity: | May 24, 2022
|
| Coupon: | 8% to May 24, 2008; after that, 8% multiplied by the proportion of days for which the 30-year CMS rate is higher than the two-year CMS rate
|
| Price: | Par
|
| Call: | On interest payment dates starting May 24, 2008 at par
|
| Pricing date: | May 15
|
| Settlement date: | May 24
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | None
|
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