By E. Janene Geiss
Philadelphia, Aug. 9 - Lehman Brothers Holdings Inc. priced a $600,000 issue of zero-coupon 100% principal-protected dual participation notes due Aug. 22, 2011 linked to the price of crude oil, according to an FWP filing with the Securities and Exchange Commission.
If the price of crude oil stays within the range, payout at maturity will be par plus 150% of the absolute value of any change in the price of crude oil.
If the price is not within the range, the payout will be par plus 40% of the absolute value of any crude oil price change. Investors will receive at least par.
The upper barrier for the range is $172.80, 150% of the initial price of $115.20. The lower barrier is $57.60, 50% of the initial price.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | 100% principal-protected dual participation notes
|
| Underlying commodity: | Crude oil
|
| Amount: | $600,000
|
| Maturity: | Aug. 22, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If crude oil stays within the barriers during the life of the notes, par plus 150% of the absolute value of any change; otherwise par plus 40% of the absolute value of any crude oil price change
|
| Initial crude oil price: | $115.20 per barrel
|
| Upper barrier: | $172.80, 150% of the initial price
|
| Lower barrier: | $57.60, 50% of the initial price
|
| Pricing date: | Aug. 8
|
| Settlement date: | Aug. 22
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 2%
|
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