Published on 4/29/2008 in the Prospect News Structured Products Daily.
New Issue: Lehman prices $7.37 million absolute return barrier notes linked to Russell 2000
By Susanna Moon
Chicago, April 29 - Lehman Brothers Holdings Inc. priced $7.37 million of zero-coupon 100% principal protection absolute return barrier notes due Oct. 30, 2009 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes above or below its initial level by more than 28.25% during the life of the notes, the payout at maturity will be par of $10. Otherwise, the payout will be par plus the absolute value of the index return.
UBS Financial Services Inc. and Lehman Brothers Inc. are the underwriters.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | 100% principal-protected absolute return barrier notes
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Underlying index: | Russell 2000
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Amount: | $7,368,780
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Maturity: | Oct. 30, 2009
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index closes above upper barrier or below lower barrier during life of notes, par; otherwise, par plus absolute value of index return
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Initial index level: | 721.88
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Lower barrier: | 517.95, or 71.75% of initial level
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Upper barrier: | 925.81, or 128.25% of initial level
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Pricing date: | April 25
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Settlement date: | April 30
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Underwriters: | UBS Financial Services Inc., Lehman Brothers Inc.
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Fees: | 1.75%
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