By Jennifer Chiou
New York, June 25 - Lehman Brothers Holdings Inc. priced a $0.5 million issue of 13.5% annualized reverse exchangeable notes due Dec. 27, 2007 linked to the common stock of Chicago Bridge & Iron Co. NV, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payout at maturity will be par unless Chicago Bridge stock falls below the knock-in price of $29.808 - 80% of the initial value - during the life of the notes and finishes below its initial share price of $37.26, in which case the payout will be a number of Chicago Bridge shares equal to $1,000 divided by the initial share price.
Lehman Brothers is the agent.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Reverse exchangeable notes
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Underlying stock: | Chicago Bridge & Iron Co. NV
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Amount: | $0.5 million
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Maturity: | Dec. 27, 2007
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Coupon: | 13.5% annualized, payable monthly
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Price: | Par
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Payout at maturity: | Par unless Chicago Bridge stock falls below the knock-in price of $29.808 during the life the notes and finishes below its initial value, in which case payout will be a number of shares equal to $1,000 divided by the initial share price
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Initial share price: | $37.26
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Knock-in price: | $29.808, 80% of $37.26
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Pricing date: | June 22
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Settlement date: | June 27
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Agent: | Lehman Brothers
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Fees: | 1.48%
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