By Susanna Moon
Chicago, April 29 - Lehman Brothers Holdings Inc. priced a $191,000 issue of 13.5% reverse exchangeable notes due Oct. 30, 2008 linked to the common stock of NYSE Euronext, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If NYSE Euronext stock falls below the knock-in price - 75% of the initial value - during the life of the notes and finishes below its initial price, the payout at maturity will be a number of NYSE Euronext 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.
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Issue: | Reverse exchangeable notes
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Underlying stock: | NYSE Euronext (Symbol: NYX)
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Amount: | $191,000
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Maturity: | Oct. 30, 2008
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Coupon: | 13.5%, payable monthly
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Price: | Par
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Payout at maturity: | If the stock falls below the knock-in price during the life the notes and finishes below its initial value, 15.0716 NYSE Euronext shares; otherwise, par
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Initial price: | $66.35
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Knock-in price: | $49.7625, or 75% of initial price
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | Lehman Brothers Inc.
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Fees: | 2.74%
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