By Laura Lutz
Des Moines, May 1 - Lehman Brothers Holdings Inc. priced a $4.28 million issue of 0% buffered annual review notes due May 5, 2009 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
There is a greenshoe for $641,000.
The notes will be automatically called at 111.5% of par if the index level is at or above the initial index level on April 30, 2009.
If the notes are not called, the payout at maturity will be par if the ending index level is at least 90% of the initial index level. Investors will lose 1.1111% for each 1% decline beyond 10%.
Lehman Brothers is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Buffered annual review notes
|
| Underlying index: | S&P 500
|
| Amount: | $4,275,000
|
| Greenshoe: | $641,000
|
| Maturity: | May 5, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if the index loses up to 10%; investors lose 1.1111% for each 1% decline beyond 10%
|
| Callable: | At 111.5% of par if index is at or above initial level on April 30, 2009
|
| Initial level: | 1,390.94
|
| Pricing date: | April 29
|
| Settlement date: | May 2
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 1.25%
|
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