By Angela McDaniels
Tacoma, Wash., May 19 - Lehman Brothers Holdings Inc. priced $1 million of CMS range notes due June 2, 2011, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly and equals 6% per year multiplied by the proportion of days on which the spread of the 10-year Constant Maturity Swap (CMS) rate over the two-year CMS rate is at least zero basis points and not more than 140 bps.
Beginning June 2, 2009, the notes are callable at par on any interest payment date.
If the notes are not called, the payout at maturity will be par.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | CMS range notes
|
| Amount: | $1 million
|
| Maturity: | June 2, 2011
|
| Coupon: | 6% per year multiplied by proportion of days on which spread of 10-year CMS rate over two-year CMS rate is between zero bps and 140 bps, inclusive; payable monthly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates from June 2, 2009 onward
|
| Pricing date: | May 16
|
| Settlement date: | June 2
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 0.6%
|
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