Lehman plans issue of 3.6% Yeelds linked to Tyco stock

By Angela McDaniels

Seattle, March 3 - Lehman Brothers Holdings Inc. plans to price an issue of 3.6% Yeelds (Yield Enhanced Equity-Linked Debt Securities) due March 10, 2007 performance-linked to Tyco International Ltd. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

Payout at maturity will be the value of Tyco stock on March 5, 2007, the valuation date. The payout will be capped at 125% of par and is payable in cash or shares at Lehman's option.

Lehman Brothers, the underwriter, will have an over-allotment option.

Settlement of the offering is scheduled for March 9.

© 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.