By E. Janene Geiss
Philadelphia, Aug. 4 - Lehman Brothers Holdings Inc. priced $46 million of 12.12% Yield Enhanced Equity-Linked Debt Securities (Yeelds) due Sept. 11, 2009 linked to the American Depositary Shares of ABB Ltd., according to an FWP filing with the Securities and Exchange Commission.
The notes are priced at par of $26.255, the amount that Lehman paid to hedge the deal.
Interest is payable monthly.
The payout at maturity will be the average price of the shares on the valuation date. The payout will be capped at $30.19325 per note, 115% of the initial price, and is payable in stock or cash, at the issuer's option.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Yield Enhanced Equity-Linked Debt Securities (Yeelds) medium-term notes
|
| Underlying stock: | American Depositary Shares of ABB Ltd.
|
| Amount: | $46,000,020.24
|
| Maturity: | Sept. 11, 2009
|
| Coupon: | 12.12%, payable monthly
|
| Price: | Par of $26.255
|
| Payout at maturity: | Average price of the shares on a valuation date, capped at $30.19325 per note, 115% of the initial price; payable in stock or cash at the issuer's option
|
| Initial level: | $26.255
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 8
|
| Underwriter: | Lehman Brothers Inc.
|
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