Published on 2/28/2008 in the Prospect News Structured Products Daily.
New Issue: Lehman sells $1.4 million notes linked to Consumer Staples, Consumer Discretionary funds
By Jennifer Chiou
New York, Feb. 28 - Lehman Brothers Holdings Inc. priced $1.4 million of 0% relative performance securities due Aug. 31, 2009 linked to the performance of the Consumer Staples Select Sector SPDR fund versus the Consumer Discretionary Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the Consumer Staples fund return is greater than the Consumer Discretionary fund return, the payout at maturity will be par of $10 plus the difference between the two returns multiplied by the participation rate of 135%.
If the Consumer Discretionary fund return is greater than the Consumer Staples fund return, the payout at maturity will be par minus the difference between the two returns.
UBS Financial Services Inc. and Lehman Brothers Inc. are the underwriters.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Relative performance securities
|
| Underlying funds: | Consumer Staples Select Sector SPDR fund, Consumer Discretionary Select Sector SPDR fund
|
| Amount: | $1,395,500
|
| Maturity: | Aug. 31, 2009
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus the difference between the two returns multiplied by the participation rate of 135% if the Consumer Staples fund return is greater than the Consumer Discretionary fund return; if the Consumer Discretionary fund return is greater than the Consumer Staples fund return, the payout at maturity will be par minus the difference between the two returns
|
| Initial prices: | Consumer Staples fund at $27.98; Consumer Discretionary fund at $32.97
|
| Pricing date: | Feb. 26
|
| Settlement date: | Feb. 29
|
| Underwriters: | UBS Financial Services Inc., Lehman Brothers Inc.
|
| Fees: | 1.75%
|
© 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.
