By Laura Lutz
Des Moines, Feb. 19 - Lehman Brothers Holdings Inc. increased the fees that it will pay to Lehman Brothers Inc. for its $3 million issue of CMS spread range accrual notes due March 3, 2023, according to an FWP filing with the Securities and Exchange Commission.
The fees are now 3.5%, up from 1.8%.
The notes will bear interest at 10.25% per year multiplied by the proportion of days on which the spread of the 30-year Constant Maturity Swap (CMS) rate over the 10-year CMS rate is at least 0%.
Interest will be payable quarterly.
The notes are callable at par on any interest payment date beginning March 3, 2009.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | CMS spread range accrual notes
|
| Amount: | $3 million
|
| Maturity: | March 3, 2023
|
| Coupon: | 10.25% multiplied by the proportion of days on which the spread of the 30-year CMS rate over 10-year CMS rate is at least 0%; payable quarterly with a floor of 0%
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call: | At par on interest payment dates beginning March 3, 2009
|
| Pricing date: | Feb. 14
|
| Settlement date: | March 3
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 3.5%
|
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