Lehman to issue Range Notes linked to light sweet crude oil

By Angela McDaniels

Seattle, Oct. 20 - Lehman Brothers Holdings Inc. plans to price an issue of three-month Range Notes linked to the price of light sweet crude oil, according to an FWP filing with the Securities and Exchange Commission.

The maturity is expected to be Feb. 6, 2007. The exact maturity will be determined at pricing, which is expected to be Oct. 26. Settlement is expected on Nov. 6.

Payout at maturity will be 102% of par if the price of crude oil, expressed as dollars per barrel, remains within the reference range during the life of the notes. If crude oil falls outside the reference, payout at maturity will be par.

The reference range will be 88% to 111%, inclusive, of the price of the first nearby month futures contract of crude oil on the pricing date.

There will be no interest payments.

Lehman Brothers Inc. will be the underwriter for the offering.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.