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Lehman Brothers to price return optimization securities linked to S&P 500 via UBS
By Susanna Moon
Chicago, Jan. 29 - Lehman Brothers Holdings Inc. plans to price return optimization securities with partial protection due Aug. 31, 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain on the index, capped at a return of 18% to 21%. The exact cap will be set at pricing.
If the index declines by up to 10%, the payout will be par. Investors will lose 1% for each 1% that the index declines beyond 10%.
The securities are expected to price on Feb. 26 and settle on Feb. 29.
UBS Financial Services Inc. and Lehman Brothers Inc. are the underwriters.
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