By Jennifer Chiou
New York, May 25 - Lehman Brothers Holdings Inc. priced a $23 million offering of callable spread daily accrual notes due May 31, 2022 linked to the spread of the 30-year Constant Maturity Swap (CMS) rate over the two-year CMS rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest payment will be the 8.09% base interest rate multiplied by the proportion of days on which the 30-year CMS rate is higher than the two-year CMS rate.
Interest will be payable quarterly.
The notes will be callable at par on any interest payment date starting on May 31, 2008.
UBS Financial Services Inc. and Lehman Brothers Inc. are the underwriters.
Issuer: | Lehman Brothers Holdings Inc.
|
Issue: | Callable spread daily accrual notes
|
Amount: | $23 million
|
Maturity: | May 31, 2022
|
Coupon: | 8.09% multiplied by the proportion of days on which the spread of the 30-year CMS rate over the two-year CMS rate is equal to or greater than zero; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par plus accrued interest
|
Call: | On any interest payment date starting on May 31, 2008
|
Pricing date: | May 23
|
Settlement date: | May 31
|
Underwriters: | UBS Financial Services Inc., Lehman Brothers Inc.
|
Fees: | 2%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.