By E. Janene Geiss
Philadelphia, Feb. 25 - Lehman Brothers Holdings Inc. priced a $5 million issue of 15-year non-callable for one year range notes due March 10, 2023 linked to six-month Libor, according to an FWP filing with the Securities and Exchange Commission.
The interest rate for each quarter will be 8% times the proportion of days in that quarter on which six-month Libor at least 0% and less than or equal to upper Libor barrier of 7%. The interest rate will be 3.125% times the proportion of days on which six-month Libor is greater than 7%.
Interest will be payable quarterly.
The notes are callable at par on any interest payment date beginning March 10, 2009.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | 15-year non-callable for one year range notes
|
| Amount: | $5 million
|
| Maturity: | March 10, 2023
|
| Coupon: | 8% times proportion of days in quarter on which six-month Libor is at least 0% and less than or equal to 7%; 3.125% times the proportion of days on which six-month Libor is greater than 7%; reset and payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call: | At par on interest payment dates beginning March 10, 2009
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 10
|
| Underwriter: | Lehman Brothers Inc. |
|
| Fees: | 2%
|
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