By Jennifer Chiou
New York, Nov. 14 - Lehman Brothers Holdings Inc. priced a $15 million issue of 0% Double Conditional Range Notes due March 1, 2007 linked to gold and silver, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be 103.15% of par if the gold and silver prices have traded within the reference ranges during the life of the notes.
If either gold or silver trades outside of the reference ranges, payout at maturity will be par.
Lehman Brothers Inc. is the underwriter for the offering.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Double Conditional Range Notes
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Underlying assets: | Gold, silver
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Amount: | $15 million
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Maturity: | March 1, 2007
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | 103.15% of par if gold and silver prices remain within the reference range; otherwise par
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Initial gold price: | $623.50 per ounce
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Gold reference range: | $520.00 to $740.00
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Initial silver price: | $12.86 per ounce
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Silver reference range: | $10.40 to $15.75
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Pricing date: | Nov. 13
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Settlement date: | Nov. 17
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Underwriter: | Lehman Brothers Inc.
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