Published on 3/28/2008 in the Prospect News Structured Products Daily.
New Issue: Lehman prices $4.32 million return optimization securities linked to MSCI EM via UBS
By Laura Lutz
Des Moines, March 28 - Lehman Brothers Holdings Inc. priced $4.32 million of 0% return optimization securities with partial protection due Sept. 30, 2009 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and Lehman Brothers Inc. are the underwriters.
If the final index level is at least the initial level, the payout at maturity will be par of $10 plus 200% of any gain on the index, capped at a maximum payout equal to 127.3% of par.
If the index declines by up to 15%, the payout will be par. Investors will lose 1% for each 1% that the index declines beyond 15%.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Return optimization securities with partial protection
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Underlying index: | MSCI Emerging Markets index
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Amount: | $4,314,700
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Maturity: | Sept. 30, 2009
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final index level is at least initial level, par plus 200% of any index gain, capped at payout equal to 127.3% of par; par if index declines by up to 15%; investors lose 1% for each 1% that index declines beyond 15%
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Initial level: | 1,107.60
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Pricing date: | March 26
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Settlement date: | March 31
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Underwriters: | UBS Financial Services Inc.; Lehman Brothers Inc.
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Fees: | 1.75%
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