Published on 2/28/2008 in the Prospect News Structured Products Daily.
New Issue: Lehman prices $25.5 million absolute return barrier notes linked to Russell 2000
By Jennifer Chiou
New York, Feb. 28 - Lehman Brothers Holdings Inc. priced $25.5 million of zero-coupon 100% principal-protected absolute return barrier notes due Aug. 31, 2009 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes above or below its initial level by more than 26.92% during the life of the notes, the payout at maturity will be par.
Otherwise, the payout will be par plus the absolute value of the index return.
UBS Financial Services Inc. and Lehman Brothers Inc. are the underwriters.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | 100% principal-protected absolute return barrier notes
|
| Underlying index: | Russell 2000
|
| Amount: | $25,495,180
|
| Maturity: | Aug. 31, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index closes above the upper barrier or below the lower barrier, par; otherwise, par plus absolute value of index return
|
| Initial index level: | 717.32
|
| Lower barrier: | 910.42, 73.08% of par
|
| Upper barrier: | 524.22, 126.92% of par
|
| Pricing date: | Feb. 26
|
| Settlement date: | Feb. 29
|
| Underwriters: | UBS Financial Services Inc., Lehman Brothers Inc.
|
| Fees: | 1.75%
|
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