By Jennifer Chiou
New York, June 28 - Lehman Brothers Holdings Inc. priced a $4.547 million issue of 15.5% annualized reverse exchangeable notes due Sept. 29, 2007 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless Freeport-McMoRan stock falls below the knock-in price of $62.672 - 80% of the initial value - during the life of the notes and finishes below its initial price of $78.34, in which case the payout will be a number of Freeport-McMoRan shares equal to $1,000 divided by the initial share price.
Lehman Brothers is the agent.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Reverse exchangeable notes
|
| Underlying stock: | Freeport-McMoRan Copper & Gold Inc.
|
| Amount: | $4.547 million
|
| Maturity: | Sept. 29, 2007
|
| Coupon: | 15.5% annualized, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Freeport-McMoRan stock falls below the knock-in price of $62.672 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
|
| Initial price: | $78.34
|
| Knock-in price: | $62.672, 80% of $78.34
|
| Pricing date: | June 26
|
| Settlement date: | June 29
|
| Agent: | Lehman Brothers
|
| Fees: | 1.75%
|
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