By Laura Lutz
Des Moines, Feb. 29 - Lehman Brothers Holdings Inc. priced $15.5 million of 23.15% Multi-Underlying Yield Enhanced Equity-Linked Debt Securities (Yeelds) due Sept. 6, 2008 linked to a basket of three stocks, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of the common stocks of D.R. Horton Inc., Toll Brothers Inc. and MDC Holdings Inc.
The notes are priced at par of $25.00, the amount that Lehman paid to hedge the deal.
Interest is payable monthly.
At maturity, investors will receive a number of shares of the worst performing stock equal to par divided by the initial price of that stock, or the equivalent in cash.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Multi-Underlying Yield Enhanced Equity-Linked Debt Securities (Yeelds) medium-term notes
|
| Underlying stocks: | D.R. Horton Inc. (Symbol: DHI); Toll Brothers Inc. (Symbol: TOL); MDC Holdings Inc. (Symbol: MDC)
|
| Amount: | $15.5 million
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| Maturity: | Sept. 6, 2008
|
| Coupon: | 23.15%, payable quarterly
|
| Price: | Par of $25.00
|
| Payout at maturity: | Shares of worst performing stock equal to par divided by initial price of that stock, or equivalent in cash
|
| Initial levels: | $16.51 for D.R. Horton; $23.05 for Toll Brothers; $44.89 for MDC
|
| Pricing date: | Feb. 28
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| Settlement date: | March 6
|
| Underwriter: | Lehman Brothers Inc.
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