By Laura Lutz
Des Moines, June 6 - Lehman Brothers Holdings Inc. priced a $1.525 million issue of 18% reverse exchangeable notes due Dec. 8, 2007 linked to the common stock of General Motors Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless General Motors stock falls below the knock-in price of $24.112 - 80% of the initial share price - during the life of the notes and finishes below its initial share price of $30.14, in which case the payout will be a number of General Motors shares equal to $1,000 divided by the initial share price.
Lehman Brothers is the underwriter.
Issuer: | Lehman Brothers Holdings Inc.
|
Issue: | Reverse exchangeable notes
|
Underlying stock: | General Motors Corp.
|
Amount: | $1.525 million
|
Maturity: | Dec. 8, 2007
|
Coupon: | 18%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par unless General Motors stock falls below the knock-in price of $24.112 during the life the notes and finishes below its initial share price, in which case payout will be 33.1785 General Motors shares
|
Initial share price: | $30.14
|
Knock-in price: | $24.112, 80% of $30.14
|
Pricing date: | June 5
|
Settlement date: | June 8
|
Underwriter: | Lehman Brothers
|
Fees: | 2.06%
|
© 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.