Lehman Brothers plans absolute return barrier notes linked to S&P 500

By E. Janene Geiss

Philadelphia, Dec. 28 - Lehman Brothers Holdings Inc. plans to price an issue of zero-coupon 100% principal-protected absolute return barrier notes due October 2008 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

If the index ever closes above the upper index barrier or below the lower index barrier, investors will receive par at maturity. The upper and lower index barriers are expected to be between 12.5% and 15.5% of the initial level with the exact barrier levels to be determined at pricing.

If the index stays within the barriers, the payout at maturity will be par plus the absolute value of the index return.

The notes are expected to price and settle in January.

Lehman Brothers Inc. is the underwriter.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.