By Laura Lutz
Des Moines, July 10 - Lehman Brothers Holdings Inc. priced a $1.85 million issue of 13% reverse exchangeable notes due July 11, 2008 linked to the common stock of Goldcorp Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless Goldcorp stock falls below the knock-in price of $17.969 - 70% of the initial value - during the life of the notes and finishes below its initial price of $25.67, in which case the payout will be a number of Goldcorp 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: | Goldcorp Inc.
|
| Amount: | $1.85 million
|
| Maturity: | July 11, 2008
|
| Coupon: | 13%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Goldcorp stock falls below the knock-in price of $17.969 during the life of 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: | $25.67
|
| Knock-in price: | $17.969, 70% of $25.67
|
| Pricing date: | July 6
|
| Settlement date: | July 11
|
| Agent: | Lehman Brothers
|
| Fee: | 2.5%
|
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