By Laura Lutz
Des Moines, Feb. 1 - Lehman Brothers Holdings Inc. upsized its issue of 15-year non-call one-year range notes due Feb. 6, 2023 linked to six-month Libor by $5 million to raise the issue to $35 million, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
For each quarter, the interest rate will be equal to a base rate times the proportion of days on which six-month Libor is at least 0% and not more than 7%.
The base rate will equal 8% per year until Feb. 6, 2013, 9% per year from then until Feb. 6, 2018 and 10% per year from then until maturity.
The notes are callable at par on any interest payment date beginning Feb. 6, 2009.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Range notes
|
| Amount: | $35 million, upsized from $10 million
|
| Maturity: | Feb. 6, 2023
|
| Coupon: | Base rate times proportion of days on which six-month Libor is at least 0% and not more than 7%; base rate is 8% per year until Feb. 6, 2013, 9% per year from then until Feb. 6, 2018, 10% per year from then until maturity; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call: | At par on interest payment dates beginning Feb. 6, 2009
|
| Pricing dates: | Jan. 22 for original $10 million; Jan. 24 for $5 million; Jan. 25 for $5 million; Jan. 28 for $5 million; Jan. 30 for $5 million; Feb. 1 for $5 million
|
| Settlement date: | Feb. 6
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 1.2% for original $10 million; 2% for remainder
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