By Laura Lutz
Des Moines, March 28 - Lehman Brothers Holdings Inc. priced a $290,000 issue of 15% annualized reverse exchangeable notes due June 30, 2008 linked to the common stock of Alcoa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Alcoa stock falls below the knock-in price of $28.824 - 80% of the initial value - during the life of the notes and finishes below its initial price of $36.03, the payout at maturity will be a number of Alcoa shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
Lehman Brothers Inc. is the agent.
Issuer: | Lehman Brothers Holdings Inc.
|
Issue: | Reverse exchangeable notes
|
Underlying stock: | Alcoa Inc. (Symbol: AA)
|
Amount: | $290,000
|
Maturity: | June 30, 2008
|
Coupon: | 15%, payable monthly
|
Price: | Par
|
Payout at maturity: | If Alcoa stock falls below the knock-in price of $28.824 during the life the notes and finishes below its initial value, a number of shares equal to par divided by the initial share price; otherwise, par
|
Initial price: | $36.03
|
Knock-in price: | $28.824, 80% of $36.03
|
Pricing date: | March 26
|
Settlement date: | March 31
|
Agent: | Lehman Brothers Inc.
|
Fees: | 2.42%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.