By E. Janene Geiss
Philadelphia, Sept. 27 - Lehman Brothers Holdings Inc. upsized to $12 million an issue of Constant Maturity Swap (CMS) spread range accrual notes due Oct. 17, 2022, according to an FWP filing with the Securities and Exchange Commission.
The notes originally priced at $3 million on Sept. 20. The issuer added $9 million in notes on Sept. 25.
The notes will pay an interest rate of 9%, multiplied by an interest accrual factor equal to the proportion of days on which the spread of the 30-year CMS rate over the two-year CMS rate is greater than or equal to 0%.
Interest is payable quarterly.
The notes will be callable at par on any interest payment date beginning Oct. 17, 2008.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Spread range accrual notes
|
| Amount: | $12 million, up from $3 million original issue size
|
| Maturity: | Oct. 17, 2022
|
| Coupon: | 9% multiplied by an interest accrual factor equal to the proportion of days on which the spread of the 30-year CMS rate over the 10-year CMS rate is greater than or equal to 0%; payable quarterly
|
| Price: | Par
|
| Call: | At par on any interest payment date beginning Oct. 17, 2008
|
| Payout at maturity: | Par plus accrued interest
|
| Pricing date: | Sept. 20
|
| Settlement date: | Oct. 17
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 2%
|
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