By Susanna Moon
Chicago, Feb. 15 - Lehman Brothers Holdings Inc. priced a $1 million offering of 19.75% reverse exchangeable notes due Feb. 19, 2009 linked to the worst-performing stock in a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes General Electric Co., Intel Corp. and Walt Disney Co.
Interest is payable monthly.
If any stock in the basket falls below its trigger price - 80% of its initial share price - the payout at maturity will be a number of shares of the worst-performing stock equal to $1,000 divided by that stock's initial share price.
If no such trigger event occurs, investors will receive par.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Reverse exchangeable notes
|
| Underlying stocks: | General Electric Co. (NYSE: GE), Intel Corp. (Nasdaq: INTC) and Walt Disney Co. (NYSE: DIS)
|
| Amount: | $1 million
|
| Maturity: | Feb. 19, 2009
|
| Coupon: | 19.75%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | A number of shares of the worst-performing stock equal to $1,000 divided by that stock's initial share price if any stock in the basket falls below its trigger price, 80% of its initial share price; otherwise par
|
| Initial share prices: | $34.98 for GE, $21.21 for Intel and $32.78 for Disney
|
| Pricing date: | Feb. 13
|
| Settlement date: | Feb. 19
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 0.8%
|
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