Published on 2/7/2008 in the Prospect News Structured Products Daily.
New Issue: Lehman prices $48.31 million autocallable securities linked to S&P 500 Financials via UBS
By Laura Lutz
Des Moines, Feb. 7 - Lehman Brothers Holdings Inc. priced $48.31 million of 0% autocallable optimization securities with contingent protection due Aug. 10, 2009 linked to the S&P 500 Financials index, according to a 424B2 filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and Lehman Brothers Inc. are the underwriters.
The notes will be automatically called if the closing level of the index is at or above its starting level on any observation date. The call price will be equal to par of $10 plus an annual return of 20.84% to the relevant observation date.
The observation dates are May 5, 2008, Aug. 5, 2008, Nov. 5, 2008, Feb. 5, 2009, May 5, 2009 and Aug. 5, 2009.
At maturity, investors will receive par if the index stays above the trigger level - 50% of the index's starting level - during the life of the notes. If the index has ever closed below the trigger level, the payout will be par times the index performance.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Autocallable optimization securities with contingent protection
|
| Underlying index: | S&P 500 Financials
|
| Amount: | $48,310,620
|
| Maturity: | Aug. 10, 2009
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index closes below trigger level during the life of the notes, par times index performance; otherwise, par
|
| Call: | Automatically called if index is above initial level on May 5, 2008, Aug. 5, 2008, Nov. 5, 2008, Feb. 5, 2009, May 5, 2009 or Aug. 5, 2009; at par plus annual return of 20.84% to relevant observation date
|
| Initial index level: | 369.44
|
| Trigger level: | 184.72, 50% of initial index level
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 8
|
| Underwriters: | UBS Financial Services Inc., Lehman Brothers Inc.
|
| Fees: | 1.5%
|
© 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.
