By Jennifer Chiou
New York, March 27 - Lehman Brothers Holdings Inc. priced $4.52 million of 100% principal protection CMS callable spread daily accrual notes due March 31, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will bear interest at 9.55% per year multiplied by the proportion of days on which the spread of the 30-year Constant Maturity Swap (CMS) rate over the two-year CMS rate is at least 0%.
Interest will be payable quarterly.
The notes are callable at par on any interest payment date beginning March 31, 2009.
UBS Financial Services Inc. and Lehman Brothers Inc. are the underwriters.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | CMS spread range accrual notes
|
| Amount: | $4,522,000
|
| Maturity: | March 31, 2023
|
| Coupon: | 9.55% multiplied by the proportion of days on which the spread of the 30-year CMS rate over the two-year CMS rate is at least 0%; payable quarterly with a floor of 0%
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par on interest payment dates beginning March 31, 2009
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Underwriters: | UBS Financial Services Inc., Lehman Brothers Inc.
|
| Fees: | 2%
|
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