By E. Janene Geiss
Philadelphia, Jan. 25 - Lehman Brothers Holdings Inc. priced another $11 million of 15-year non-call one-year range notes due Jan. 30, 2023 linked to six-month Libor, according to an FWP filing with the Securities and Exchange Commission.
The additional notes priced in three tranches. The first tranche, priced Thursday for $3 million, brought the total offering up to $27 million. The second tranche, for $5 million, priced the same day and brought the total amount of the offering to $32 million. The third tranche, for $3 million was priced Friday.
The company originally priced $3 million of the notes on Jan. 9. The notes have been upsized several times since.
Interest is payable quarterly and equals 8.25% per year 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 Jan. 30, 2009.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Range notes
|
| Amount: | $35 million, (three tranches of $3 million, $5 million and $3 million), up from initial $3 million issue
|
| Maturity: | Jan. 30, 2023
|
| Coupon: | 8.25% per year multiplied by the proportion of days on which six-month Libor is at least 0% and not more than 7%; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call: | At par on interest payment dates beginning Jan. 30, 2009
|
| Pricing dates: | Jan. 24 for $8 million additional notes; Jan. 25 for $3 million additional notes; $3 million initial offering priced Jan. 9
|
| Settlement date: | Jan. 30
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 1.2%
|
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