By Jennifer Chiou
New York, July 30 - Lehman Brothers Holdings Inc. priced a $0.515 million issue of 13.5% reverse exchangeable notes due July 31, 2008 linked to the common stock of Ford, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless Ford stock falls below the knock-in price of $6.472 - 80% of the initial value - during the life of the notes and finishes below its initial price of $8.09, in which case the payout will be a number of Ford shares equal to $1,000 divided by the initial share price.
Lehman Brothers is the agent.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Reverse exchangeable notes
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Underlying stock: | Ford Motor Co.
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Amount: | $0.515 million
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Maturity: | July 31, 2008
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Coupon: | 13.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless Ford stock falls below the knock-in price of $6.472 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
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Initial price: | $8.09
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Knock-in price: | $6.472, 80% of $8.09
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | Lehman Brothers
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Fees: | 2.97%
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