Published on 1/24/2008 in the Prospect News Structured Products Daily.
New Issue: Lehman upsizes 15NC1 range notes linked to six-month Libor to $15 million
By Jennifer Chiou
New York, Jan. 24 - Lehman Brothers Holdings Inc. upsized its issue of 15-year non-call one-year range notes due Feb. 6, 2023 linked to six-month Libor by $5 million to raise the issue to $15 million, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly and equals 8% per year until Feb. 6, 2013, then 9% per year until Feb. 6, 2018 and then 10% per year to maturity. Each coupon is then multiplied by the proportion of days on which six-month Libor is at least 0% and not more than 7%.
The notes are callable at par on any interest payment date beginning Feb. 6, 2009.
Lehman Brothers Inc. is the underwriter.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Range notes
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Amount: | $15 million, upsized from $10 million
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Maturity: | Feb. 6, 2023
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Coupon: | 8% per year until Feb. 6, 2013, then 9% per year until Feb. 6, 2018, then 10% per year until maturity, multiplied by the proportion of days on which six-month Libor is at least 0% and not more than 7%; payable quarterly
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Price: | Variable
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Payout at maturity: | Par
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Call: | At par on interest payment dates beginning Feb. 6, 2009
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Pricing dates: | Jan. 22 for original $10 million; Jan. 24 for $5 million
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Settlement date: | Feb. 6
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Underwriter: | Lehman Brothers Inc.
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Fees: | 1.2%
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