By Jennifer Chiou
New York, July 30 - Lehman Brothers Holdings Inc. priced a $0.49 million issue of 15.8% annualized reverse exchangeable notes due Jan. 31, 2008 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payout at maturity will be par unless Freeport-McMoRan stock falls below the knock-in price of $71.792 - 80% of the initial value - during the life of the notes and finishes below its initial price of $89.74, in which case the payout will be a number of Freeport-McMoRan 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: | Freeport-McMoRan Copper & Gold Inc.
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Amount: | $0.49 million
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Maturity: | Jan. 31, 2008
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Coupon: | 15.8% annualized, payable monthly
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Price: | Par
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Payout at maturity: | Par unless Freeport-McMoRan stock falls below the knock-in price of $71.792 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: | $89.74
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Knock-in price: | $71.792, 80% of $89.74
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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: | 2.15%
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