Published on 7/10/2007 in the Prospect News Structured Products Daily.
New Issue: Lehman upsizes to $7.656 million principal-protected notes linked to basket of base metals
By Jennifer Chiou
New York, July 10 - Lehman Brothers Holdings Inc. reopened its 100% principal protection bonus notes due June 29, 2010 linked to a basket of base metals to push the total issue amount to $7.656 million, according to an FWP filing with the Securities and Exchange Commission.
The issue initially priced on June 22 at a size of $7.426 million and was subsequently upsized by $60,000, $25,000, $50,000, $45,000 and the most recent $50,000 reopening.
The basket includes equal weights of grade A copper, primary nickel, high grade primary aluminum and special high grade zinc.
At maturity, investors will receive par plus any positive return on the basket if the basket return is greater than 30%. Investors will receive par plus 30% if the basket return is better than a loss of 8%, but less than or equal to 30%. Investors will receive par if the basket loses 8% or more.
Lehman Brothers Inc. is the underwriter.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Principal-protected bonus notes
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Underlying assets: | Equal weights of grade A copper, primary nickel, high grade primary aluminum and special high grade zinc
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Amount: | $7.656 million, upsized from $7.426 million
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Maturity: | June 29, 2010
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any positive basket return if the return is greater than 30%; par plus 30% if the basket return is better than a loss of 8%, but less than or equal to 30%; par if the basket loses 8% or more
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Initial strike prices: | $7,510 for copper, $37,605 for nickel, $3,525 for zinc and $2,659.50 for aluminum
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Pricing date: | June 22 for original $7.426 million; July 9 for reopened notes
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Settlement date: | June 29 for original $7.426 million; July 12 for reopened notes
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Underwriters: | Lehman Brothers Inc.
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Fees: | 2%
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