By Laura Lutz
Des Moines, Sept. 27 - Lehman Brothers Holdings Inc. priced a $4.68 million offering of callable spread daily accrual notes due Sept. 28, 2022 linked to the spread of the 30-year Constant Maturity Swap (CMS) rate over the two-year CMS rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest payment will be 7.82% per year multiplied by the proportion of days on which the 30-year CMS rate is higher than the two-year CMS rate.
Interest is payable quarterly.
The notes will be callable at par on any interest payment date starting on Sept. 28, 2008.
If the notes are not called, the payout at maturity will be par.
UBS Financial Services Inc. and Lehman Brothers Inc. are the underwriters.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Callable spread daily accrual notes
|
| Amount: | $4.68 million
|
| Maturity: | Sept. 28, 2022
|
| Coupon: | 7.82% multiplied by the proportion of days on which the spread of the 30-year CMS rate over the two-year CMS rate is equal to or greater than zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | On any interest payment date starting on Sept. 28, 2008
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 28
|
| Underwriters: | UBS Financial Services Inc., Lehman Brothers Inc.
|
| Fees: | 2%
|
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