Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers L > Headlines for Lehman Brothers Holdings Inc. > News item |
Lehman to price 15-year spread daily accrual notes linked to CMS rates via UBS
By Jennifer Chiou
New York, Jan. 2 - Lehman Brothers Holdings Inc. plans to price 15-year Constant Maturity Swap (CMS) callable spread daily accrual notes due Jan. 31, 2023 via UBS Financial Services Inc. and Lehman Brothers Inc., according to an FWP filing with the Securities and Exchange Commission.
The notes are expected to price on Jan. 25 and settle on Jan. 31.
The notes will pay a base rate, which is expected to be between 7.8% and 8.3%, 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%.
The notes are callable on quarterly interest payment dates beginning July 31, 2008.
© 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.