By Angela McDaniels
Seattle, June 4 - Lehman Brothers Holdings Inc. priced an additional $5 million of its steepener notes due June 20, 2022 linked to the 30-year and 10-year Constant Maturity Swap (CMS) rates, according to an FWP filing with the Securities and Exchange Commission.
The company priced $4 million of the notes on May 23. The total amount of notes priced is now $9 million.
The notes will bear interest at 10% for the first year. After that, interest will be reset quarterly and will equal 50 times the spread of the 30-year CMS rate over the 10-year CMS rate, with a floor of zero.
Interest is payable quarterly.
The notes are callable at par on any interest payment date beginning June 20, 2008.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Steepener notes
|
| Amount: | $9 million, upsized from $4 million
|
| Maturity: | June 20, 2022
|
| Coupon: | 10% for first year; 50 times the spread of the 30-year CMS rate over the 10-year CMS rate after that, floor of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par on any interest payment date beginning June 20, 2008
|
| Pricing date: | May 23
|
| Settlement date: | June 20
|
| Underwriter: | Lehman Brothers Inc.
|
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