By Jennifer Chiou
New York, July 30 - Lehman Brothers Holdings Inc. priced a $5.294 million issue of 14.4% annualized reverse exchangeable notes due Oct. 31, 2007 linked to the common stock of NYSE Euronext, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payout at maturity will be par unless NYSE Euronext stock falls below the knock-in price of $59.16 - 80% of the initial value - during the life of the notes and finishes below its initial price of $73.95, in which case the payout will be a number of NYSE Euronext 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: | NYSE Euronext
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Amount: | $5.294 million
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Maturity: | Oct. 31, 2007
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Coupon: | 14.4% annualized, payable monthly
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Price: | Par
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Payout at maturity: | Par unless NYSE Euronext stock falls below the knock-in price of $59.16 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: | $73.95
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Knock-in price: | $59.16, 80% of $73.95
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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: | 1.8%
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