By E. Janene Geiss
Philadelphia, Dec. 27 - Lehman Brothers Holdings Inc. priced $374,000 of reverse exchangeable notes due June 30, 2008 linked to the common stock of NYSE Euronext, according to a 424B2 filing with the Securities and Exchange Commission.
The six-month notes will pay 7.325% for an annualized rate of 14.65%. Interest will be payable monthly.
If NYSE Euronext stock falls below the knock-in price of $71.456 - 80% of the initial value - during the life of the notes and finishes below its initial price of $89.32, the payout at maturity will be a number of NYSE Euronext shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
Lehman Brothers Inc. is the agent.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Reverse exchangeable notes
|
| Underlying stock: | NYSE Euronext (Symbol: NYX)
|
| Amount: | $374,000
|
| Maturity: | June 30, 2008
|
| Coupon: | 14.65%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If NYSE Euronext stock falls below the knock-in price of $71.456 during the life of the notes and finishes below its initial value, a number of shares equal to par divided by the initial share price; otherwise, par
|
| Initial price: | $89.32
|
| Knock-in price: | $71.456, 80% of $89.32
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 31
|
| Agent: | Lehman Brothers Inc.
|
| Fees: | 2.265%
|
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