By E. Janene Geiss
Philadelphia, April 16 - Lehman Brothers Holdings Inc. priced an additional $5 million of non-inversion notes due April 21, 2023, according to an FWP filing with the Securities and Exchange Commission.
When added to the $5 million of notes that priced on March 31 and the $3 million notes that priced April 7, this tranche brings the issue to $13 million.
Interest is payable quarterly and equals 10% per year multiplied by the proportion of days on which the 30-year Constant Maturity Swap (CMS) rate is greater than or equal to the two-year CMS rate.
Beginning April 21, 2009, the notes will be callable at par on any interest payment date.
Lehman Brothers Inc. is the underwriter.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Non-inversion notes
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Amount: | $13 million, upsized from $5 million
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Maturity: | April 21, 2023
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Coupon: | 10% per year multiplied by the proportion of days on which the 30-year CMS rate is greater than or equal to the two-year CMS rate; payable quarterly
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Price: | Variable
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Payout at maturity: | Par
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Call option: | At par on interest payment dates from April 21, 2009 onward
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Pricing date: | March 31 for original issue; April 7 for add-on
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Settlement date: | April 21
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Underwriter: | Lehman Brothers Inc.
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Fees: | 2%
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