By E. Janene Geiss
Philadelphia, Nov. 20 - Lehman Brothers Holdings Inc. priced a $3 million issue of 100% principal protected "Wedding Cake" notes linked to the price of light sweet crude oil, according to an FWP filing with the Securities and Exchange Commission.
• At maturity, investors will receive par plus 18% if at all times during the life of the notes crude oil remains within the narrowest barrier range, $47.4385 to $64.1815.
• Investors will receive par plus 11% if crude oil remains with the middle barrier range, $45.7642 to $65.8558.
• Investors will receive par plus 5% if crude oil remains within the broadest barrier range, $40.7413 to $70.8787.
If crude oil moves outside that range, payout at maturity will be par.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | 100% principal protected "Wedding Cake" notes
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| Underlying asset: | Light sweet crude oil
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| Amount: | $3 million
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| Maturity: | Nov. 30, 2007
|
| Price: | Par
|
| Payout at maturity: | Par plus 18% if crude oil remains in narrowest barrier of $47.4385 to $64.1815; par plus 11% if crude oil remains in the middle barrier of $45.7642 to $65.8558; par plus 5% if crude oil remains in the broadest barrier of $40.7413 to $70.8787; par if crude oil moves outside range.
|
| Initial crude oil price: | $55.81
|
| Pricing date: | Nov. 17
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| Settlement date: | Nov. 28
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| Underwriter: | Lehman Brothers Inc.
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