Published on 2/29/2008 in the Prospect News Structured Products Daily.
New Issue: Lehman reopens, upsizes to $3.55 million principal-protected China bull notes linked to diverse basket
By E. Janene Geiss
Philadelphia, Feb. 27 - Lehman Brothers Holdings Inc. reopened an issue of zero-coupon 100% principal-protected China bull notes due Feb. 28, 2012 to price an additional $285,000 of the notes, according to an FWP filing with the Securities and Exchange Commission.
The notes, which were issued Feb. 28, now total $3,545,000. The notes initially priced Feb. 25 at $3,185,000 and were upsized by an additional $75,000 on Feb. 27.
The notes are linked to a basket consisting 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: | $3,545,000, 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; reopened Feb. 28 for $285,000
|
| Settlement date: | Feb. 28; March 4 for $285,000 tranche
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 2%
|
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