Lehman Brothers Financial SA (LEHNQ)

[indepth05]

Junior Subordinated Notes

Junior subordinated notes are notes issued to trusts or limited partnerships (collectively, the “Trusts”) and qualify as equity capital by leading rating agencies (subject to limitation).

The Trusts were formed for the purposes of:
(a) issuing securities
representing ownership interests in the assets of the Trusts;
(b) investing the proceeds of the Trusts in junior subordinated
notes of Holdings; and
(c) engaging in activities necessary and incidental thereto.

The securities issued by the Trusts are comprised of the following:

Trust Preferred Securities:
Lehman Brothers Holdings Capital Trust III, Series K
Lehman Brothers Holdings Capital Trust IV, Series L
Lehman Brothers Holdings Capital Trust V, Series M
Lehman Brothers Holdings Capital Trust VI, Series N
Lehman Brothers Holdings Capital Trust VII
Lehman Brothers Holdings Capital Trust VIII

Euro Perpetual Preferred Securities:
Lehman Brothers U.K. Capital Funding LP
Lehman Brothers U.K. Capital Funding II LP

Enhanced Capital Advantaged Preferred Securities (ECAPS®):
Lehman Brothers Holdings E-Capital Trust I

Enhanced Capital Advantaged Preferred Securities (Euro ECAPS®):
Lehman Brothers U.K. Capital Funding III L.P.
Lehman Brothers U.K. Capital Funding IV L.P.
Lehman Brothers U.K. Capital Funding V L.P.

http://jenner.com/lehman/docs/debtors/LBEX-DOCID%20098325.pdf