By E. Janene Geiss
Philadelphia, Jan. 7 - Lehman Brothers Holdings Inc. priced $5 million of CMS spread range accrual notes due Jan. 24, 2023, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly and equals 8% multiplied by the proportion of days on which the spread of the 30-year Constant Maturity Swap (CMS) rate over the two-year CMS rate is greater than or equal to 0.0%. Interest for each quarter will be at least 0%.
The notes are callable at par on any interest payment date beginning July 24, 2008.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | CMS spread range accrual notes
|
| Amount: | $5 million
|
| Maturity: | Jan. 24, 2023
|
| Coupon: | 8% multiplied by the proportion of days on which the spread of the 30-year CMS rate over the 10-year CMS rate is at least 0.0%; payable quarterly with a floor of 0%
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par on interest payment dates beginning July 24, 2008
|
| Pricing date: | Jan. 4
|
| Settlement date: | Jan. 24
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 1.2%
|
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