By Jennifer Chiou
New York, Aug. 30 - Lehman Brothers Holdings Inc. priced a $1.04 million issue of 15.05% annualized reverse exchangeable notes due Nov. 30, 2007 linked to the common stock of MasterCard Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless MasterCard stock falls below the knock-in price of $92.484 - 70% of the initial share price - during the life of the notes and finishes below its initial price of $132.12, in which case the payout will be a number of MasterCard shares equal to $1,000 divided by the initial share price.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Reverse exchangeable notes
|
| Underlying stock: | MasterCard Inc. (NYSE: MA)
|
| Amount: | $1.04 million
|
| Maturity: | Nov. 30, 2007
|
| Coupon: | 15.05% annualized, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless MasterCard stock falls below the knock-in price of $92.484 during the life of the notes and finishes below its initial share price, in which case payout will be MasterCard shares equal to $1,000 divided by the initial share price
|
| Initial share price: | $132.12
|
| Knock-in price: | $92.484, 70% of $132.12
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 31
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 1.85%
|
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