By Laura Lutz
Des Moines, Dec. 27 - Lehman Brothers Holdings Inc. priced $470,000 more of 15-year non-inversion notes due Dec. 28, 2022, increasing the total deal size to $1.97 million, according to an FWP filing with the Securities and Exchange Commission.
The notes are non-callable for two years.
Interest will be payable quarterly. During the interest period, the coupon will be multiplied by the proportion of days for which the 30-year Constant Maturity Swap (CMS) rate is higher than the two-year CMS rate. The coupon amount will be 7% to Dec. 28, 2012, then 9% until Dec. 28, 2017 and 12% until the maturity date.
The notes are callable at par on each interest payment date beginning Dec. 28, 2009.
Lehman Brothers Inc. is manager.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | 15-year callable notes
|
| Underlying asset: | 30-year Constant Maturity Swap rate, two-year CMS rate
|
| Amount: | $1.97 million (up from $1.5 million)
|
| Maturity: | Dec. 28, 2022
|
| Coupon: | During the interest period, the coupon will be multiplied by the proportion of days for which the 30-year CMS rate is higher than the two-year CMS rate; coupon is 7% to Dec. 28, 2012; 9% until Dec. 28, 2017; 12% until maturity date
|
| Price: | Par
|
| Call: | On interest payment dates starting Dec. 28, 2009 at par
|
| Pricing date: | Dec. 18 (for $1.5 million); Dec. 26 (for $470,000)
|
| Settlement date: | Dec. 28
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 2.5%
|
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