By Angela McDaniels
Tacoma, Wash., March 10 - Lehman Brothers Holdings Inc. priced $3 million of range notes due March 27, 2023 linked to six-month Libor, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly and equals 9.25% per year multiplied by the proportion of days on which six-month Libor is at least 0% and not more than 7%.
Beginning March 27, 2009, the notes will be callable at par on any interest payment date.
Lehman Brothers Inc. is the underwriter.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Range notes
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Amount: | $3 million
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Maturity: | March 27, 2023
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Coupon: | 9.25% per year multiplied by the proportion of days on which six-month Libor is at least 0% and not more than 7%; payable quarterly
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Price: | Variable
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Payout at maturity: | Par
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Call option: | At par on interest payment dates from March 27, 2009 onward
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Pricing date: | March 10
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Settlement date: | March 27
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Underwriter: | Lehman Brothers Inc.
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Fees: | 3%
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