By E. Janene Geiss
Philadelphia, Feb. 8 - Lehman Brothers Holdings Inc. priced a $2.5 million issue of 15-year non-call two-year range notes due Feb. 22, 2023 linked to six-month Libor, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
Interest is 8.4% until Feb. 22, 2009. After that, for each quarter, the interest rate will be equal to 8.4% times the proportion of days on which six-month Libor is at least 0% and not more than 6.5%.
The notes are callable at par on any interest payment date beginning Feb. 22, 2010.
Lehman Brothers Inc. is the underwriter.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Range notes
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Amount: | $2.5 million
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Maturity: | Feb. 22, 2023
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Coupon: | 8.4% until Feb. 22, 2009, then 8.4% times proportion of days on which six-month Libor is at least 0% and not more than 6.5%; payable quarterly
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Price: | Variable
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Payout at maturity: | Par
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Call: | At par on interest payment dates beginning Feb. 22, 2010
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Pricing dates: | Feb. 7
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Settlement date: | Feb. 22
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Underwriter: | Lehman Brothers Inc.
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Fees: | 3%
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