By E. Janene Geiss
Philadelphia, Feb. 4 - Lehman Brothers Holdings Inc. priced an upsized $4,550,000 issue of 100% principal-protected digital notes due Aug. 6, 2008 linked to a long position in the Turkish lira relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.
If the exchange rate on Aug. 1 is lower than the reference level, the payout at maturity will be par plus 5.5%.
If the settlement rate is greater than the reference level, the payout will be par.
The reference level is 1.1300, which is the exchange rate on the pricing date minus 0.0375.
The deal was announced at $4.05 million at pricing on Feb. 1 and then upsized to $4.55 million on Feb. 4.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Digital notes
|
| Underlying currency: | Long position in Turkish lira relative to the dollar
|
| Amount: | $4,550,000
|
| Maturity: | Aug. 6, 2008
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 5.5% if the settlement rate is lower than the reference rate; otherwise par
|
| Reference exchange rate: | 1.1300, which is the initial exchange rate of 1.1675 minus 0.0375
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 6
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 0.144%
|
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