Lehman to price performance securities linked to index basket via UBS

By E. Janene Geiss

Philadelphia, Aug. 28 - Lehman Brothers Holdings Inc. plans to price an issue of 0% performance securities with partial protection due Sept. 30, 2010 linked to a basket of three indexes, according to an FWP filing with the Securities and Exchange Commission.

UBS Financial Services is the lead agent with Lehman Brothers Inc. as co-agent.

The basket consists of the S&P 500 index with a 33.34% weight, the Dow Jones Euro Stoxx 50 with a 33.33% weight and the Nikkei 225 with a 33.33% weight.

The payout at maturity will be par of $10.00 plus any percentage increase in the basket level multiplied by a participation rate that will be determined at pricing and expected to be between 108% and 118%.

If the final level is equal to or less than the initial basket level, the payout will be par unless the basket level falls by more than 20% during the life of the securities, in which case investors will share in the decline.

The notes are expected to price Sept. 25 and settle Sept. 28.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.