By E. Janene Geiss
Philadelphia, Feb. 27 - Lehman Brothers Holdings Inc. priced an additional $3 million of 15-year non-callable for one year spread range accrual notes due Feb. 27, 2023, according to an FWP filing with the Securities and Exchange Commission.
This brings the issue size to $15 million. The notes initially priced Jan. 29 at $5 million and have been upsized a few times since then.
Interest is payable quarterly and equals 9% 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 at least 0%.
Interest for each quarter will be at least 0%.
The notes are callable at par on any interest payment date beginning Feb. 27, 2009.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | 15-year non-callable for one year spread range accrual notes
|
| Amount: | $15 million, upsized from $5 million
|
| Maturity: | Feb. 27, 2023
|
| Coupon: | 9% multiplied by the proportion of days on which the spread of the 30-year CMS rate over two-year CMS rate is at least 0%; payable quarterly with a floor of 0%
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par on any interest payment date beginning Feb. 27, 2009
|
| Pricing date: | Jan. 29 for initial $5 million; Feb. 26 for $3 million add-on
|
| Settlement date: | Feb. 27
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 1.2%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
