By Angela McDaniels
Seattle, June 26 - Lehman Brothers Holdings Inc. priced $13.24 million of principal-protected callable spread daily accrual notes due June 29, 2022 linked to the 30-year and two-year Constant Maturity Swap (CMS) rates, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid and reset quarterly and will equal 8.15% per year multiplied by the proportion of days on which the spread of the 30-year CMS rate over the two-year CMS rate is zero or greater.
The payout at maturity will be par.
The notes are callable on each interest payment date beginning June 29, 2008.
UBS Financial Services Inc. and Lehman Brothers Inc. are the underwriters.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Principal-protected callable spread daily accrual notes
|
| Amount: | $13.24 million
|
| Maturity: | June 29, 2022
|
| Coupon: | 8.15% per year multiplied by the proportion of days on which the 30-year CMS rate is equal to or greater than the two-year CMS rate; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par on any interest payment date beginning June 29, 2008
|
| Pricing date: | June 22
|
| Settlement date: | June 29
|
| Underwriters: | UBS Financial Services Inc. and Lehman Brothers Inc.
|
| Fees: | 2%
|
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