By Angela McDaniels
Tacoma, Wash., Feb. 12 - Lehman Brothers Holdings Inc. priced an additional $1 million of non-inversion notes due Feb. 25, 2028, according to an FWP filing with the Securities and Exchange Commission.
This brings the total issue size to $18 million. The company priced $7.5 million of the notes on Jan. 30, $2.5 million of notes in two tranches on Jan. 31, $3 million of notes on Feb. 5, $3 million in two tranches on Feb. 6 and $1 million on Feb. 7.
Interest is payable monthly and equals 10% per year 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 day 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
|
| Amount: | $18 million, upsized from $7.5 million
|
| Maturity: | Feb. 25, 2028
|
| Coupon: | 10% per year 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%; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par on the 25th day of each February, May, August and November, beginning on Feb. 25, 2009
|
| Pricing date: | Jan. 30 for original issue; Jan. 31 for $2.5 million; Feb. 5 for $3 million; Feb. 6 for $3 million; Feb. 7 for $1 million; Feb. 12 for $1 million
|
| Settlement date: | Feb. 25
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 2.75% for original issue; 2.625% for latest add-on
|
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