By Laura Lutz
Des Moines, June 28 - Lehman Brothers Holdings Inc. priced a $6.581 million issue of 14.25% reverse exchangeable notes due Sept. 29, 2007 linked to the common stock of Nasdaq Stock Market Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payout at maturity will be par unless Nasdaq stock falls below the knock-in price of $23.68 - 80% of the initial share price - during the life of the notes and finishes below its initial price of $29.60, in which case the payout will be a number of Nasdaq 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: | Nasdaq Stock Market Inc.
|
| Amount: | $6.581 million
|
| Maturity: | Sept. 29, 2007
|
| Coupon: | 14.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Nasdaq stock falls below the knock-in price of $23.68 during the life of the notes and finishes below its initial share price, in which case payout will be a number of Nasdaq shares equal to $1,000 divided by the initial share price
|
| Initial share price: | $29.60
|
| Knock-in price: | $23.68, 80% of $29.60
|
| Pricing date: | June 22
|
| Settlement date: | June 29
|
| Underwriter: | Lehman Brothers
|
| Fees: | 1.75%
|
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