By E. Janene Geiss
Philadelphia, Feb. 1 - Lehman Brothers Holdings Inc. priced an additional $2.5 million issue of non-inversion notes due Feb. 25, 2028 that is non-callable for one year, according to an FWP filing with the Securities and Exchange Commission.
The upsizing brings the total issue to $10 million. The notes initially priced at $7.5 million on Jan. 30, then were upsized with the addition of a $1 million tranche on Jan. 31, with another $1.5 million tranche on Jan. 31.
Interest is payable monthly.
During each interest period, the 10% coupon will be multiplied by the proportion of days on which the spread of the 30-year Constant Maturity Swap (CMS) rate over the two-year CMS rate is greater than or equal to
0.1%
The notes are callable at par on the 25th of each February, May, August and November, beginning on Feb. 25, 2009.
Lehman Brothers Inc. is the underwriter.
Issuer: Lehman Brothers Holdings Inc.
Issue: 20-year callable non-inversion notes
Underlying rates: | 30-year Constant Maturity Swap rate, two-year CMS rate
|
Amount: | $10 million, up from $7.5 million
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Maturity: | Feb. 25, 2028
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Coupon: | During each monthly interest period, 10% multiplied by the proportion of days on which the spread of the 30-year CMS rate over the two-year CMS rate is greater than or equal to 0.1%
|
Price: | Par
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Call: | On the 25th of each February, May, August and November, beginning on Feb. 25, 2009
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Pricing date: | Jan. 30 for initial $8.5 million, Jan. 31 for additional $1 million and $1.5 million tranches
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Settlement date: | Feb. 25
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Underwriter: | Lehman Brothers Inc.
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Fees: | 2.5%
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