Lehman to issue 25% reverse exchangeables linked to IndyMac

By E. Janene Geiss

Philadelphia, July 9 - Lehman Brothers Holdings Inc. plans to price an issue of reverse exchangeable notes due Oct. 31, 2007 linked to the common stock of IndyMac Bancorp, Inc., according to an FWP filing with the Securities and Exchange Commission.

The three-month notes will pay 6.25% for an annualized rate of 25%. Interest will be paid at maturity.

The payout at maturity will be par unless IndyMac stock falls below the knock-in level - 70% of the initial share price - during the life of the securities and finishes below the initial share price, in which case the payout will be a number of IndyMac shares equal to $1,000 divided by the initial share price.

The notes are expected to price on July 26 and settle July 31.

Lehman Brothers Inc. is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.