New Issue: Lehman upsizes to $3.26 million principal-protected China bull notes linked to diverse basket

By E. Janene Geiss

Philadelphia, Feb. 27 - Lehman Brothers Holdings Inc. priced an additional $75,000 of zero-coupon 100% principal-protected China bull notes due Feb. 28, 2012 linked to an index, currency and commodity basket, according to an FWP filing with the Securities and Exchange Commission.

The add-on brings the total offering to $3.26 million. The notes initially priced Feb. 25 at $3,185,000.

The basket consists of the Hang Seng index with a 33.34% weight, the spot rate of the Chinese renminbi against the dollar with a 33.34% weight, copper-grade A with a 16.66% weight and light sweet crude oil with a 16.66% weight.

The payout at maturity will be par plus any gain on the basket, capped at 160% of par. Investors will receive at least par.

Lehman Brothers Inc. is the underwriter.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	100% principal-protected China bull notes
Underlying basket:	Hang Seng index with a 33.34%, Chinese renminbi against the dollar with a 33.34% weight, copper-grade A with a 16.66% weight and light sweet crude oil with a 16.66% weight
Amount:	$3.26 million, up from $3,185,000
Maturity:	Feb. 28, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any basket gain, capped at 160% of par; floor of par
Initial basket levels:	23,269.14 for Hang Seng; 7.146 for renminbi; $8,247 for copper; $99.23 for crude oil
Pricing date:	Feb. 25 for $3,185,000; Feb. 27 for $75,000 add-on
Settlement date:	Feb. 28
Underwriter:	Lehman Brothers Inc.
Fees:	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.