By Angela McDaniels
Tacoma, Wash., Jan. 29 - Lehman Brothers Holdings Inc. priced $20.4 million of callable spread daily accrual notes due Jan. 31, 2023 linked to the 30-year and two-year Constant Maturity Swap rates, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly and equals 8.02% per year multiplied by the proportion of days on which the spread of the 30-year CMS rate over the two-year CMS rate is at least zero.
The notes are callable at par on any interest payment date beginning Jan. 31, 2009.
UBS Financial Services Inc. and Lehman Brothers Inc. are the underwriters.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Callable spread daily accrual notes
|
| Underlying rates: | 30-year and two-year Constant Maturity Swap rates
|
| Amount: | $20,373,000
|
| Maturity: | Jan. 31, 2023
|
| Coupon: | 8.02% multiplied by the proportion of days on which the spread of the 30-year CMS rate over the two-year CMS rate is at least zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par on any interest payment date beginning Jan. 31, 2009
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 31
|
| Underwriters: | UBS Financial Services Inc. and Lehman Brothers Inc.
|
| Fees: | 2%
|
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