By Susanna Moon
Chicago, March 18 - Lehman Brothers Holdings Inc. priced $5.25 million of zero-coupon 100% principal protection absolute return barrier notes due Sept. 17, 2009 linked to the SPDR S&P Homebuilders exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and Lehman Brothers Inc. are the underwriters.
If the ETF never closes above the upper barrier or below the lower barrier during the life of the notes, the payout at maturity will be par plus the absolute value of the ETF return. Otherwise, investors will receive par.
The upper and lower barriers are 152% and 70% of the initial level, respectively.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | 100% principal protection absolute return barrier notes
|
| Underlying security: | SPDR S&P Homebuilders ETF
|
| Amount: | $5.25 million
|
| Maturity: | Sept. 17, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF never closes above the upper barrier or below the lower barrier during the life of the notes, par plus the absolute value of the ETF return; otherwise, par
|
| Initial share price: | $19.83
|
| Lower barrier: | $13.88, or 70% of the initial price
|
| Upper barrier: | $30.14, or 152% of the initial price
|
| Pricing date: | March 14
|
| Settlement date: | March 19
|
| Underwriters: | UBS Financial Services Inc.; Lehman Brothers Inc.
|
| Fees: | 1.5%
|
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