By Angela McDaniels
Tacoma, Wash., April 29 - Lehman Brothers Holdings Inc. priced $3 million of non-inversion notes due May 19, 2023, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly and equals 10% per year multiplied by the proportion of days on which the 30-year Constant Maturity Swap (CMS) rate is greater than or equal to the two-year CMS rate.
Beginning May 19, 2009, the notes will be callable at par on any interest payment date.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Non-inversion notes
|
| Amount: | $3 million
|
| Maturity: | May 19, 2023
|
| Coupon: | 10% per year multiplied by the proportion of days on which the 30-year CMS rate is greater than or equal to the two-year CMS rate; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates from May 19, 2009 onward
|
| Pricing date: | April 29
|
| Settlement date: | May 19
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 2%
|
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