By Jennifer Chiou
New York, Feb. 20 - Lehman Brothers Holdings Inc. priced a $3 million issue of 15-year non-call one-year range notes due March 7, 2023 linked to six-month Libor, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
Interest is 9% until March 7, 2009. After that, for each quarter, the interest rate will be equal to 9% times the proportion of days on which six-month Libor is at least 0% and not more than 7%.
The notes are callable at par on any interest payment date beginning March 7, 2009.
Lehman Brothers Inc. is the underwriter.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Range notes
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Amount: | $3 million
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Maturity: | March 7, 2023
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Coupon: | 9% until March 7, 2009, then 9% times proportion of days on which six-month Libor is at least 0% and not more than 7%; 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 March 7, 2009
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Pricing dates: | Feb. 20
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Settlement date: | March 7
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Underwriter: | Lehman Brothers Inc.
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Fees: | 3%
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