By Laura Lutz
Des Moines, June 14 - Lehman Brothers Holdings Inc. upsized to $10 million an issue of 15-year non-inversion notes due June 20, 2022 that are non-callable for one year, according to an FWP filing with the Securities and Exchange Commission.
The notes initially priced at $3 million on May 29. They were upsized to $5 million on June 6.
Interest will be payable quarterly. The coupon amount will be 8.4% to June 20, 2008. After that, the coupon is 8.4% 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 June 20, 2008.
Lehman Brothers Inc. is manager.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | 15-year callable notes
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Amount: | $10 million
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Maturity: | June 20, 2022
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Coupon: | 8.4% to June 20, 2008; after that, 8.4% multiplied by the proportion of days for which the 30-year CMS rate is higher than the two-year CMS rate
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Price: | Par
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Call: | On interest payment dates starting June 20, 2008 at par
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Payout at maturity: | Par plus accrued interest
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Pricing date: | May 29
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Settlement date: | June 20
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Underwriter: | Lehman Brothers Inc.
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Fees: | None
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