Lehman Brothers Holdings, 8.75% Non-Cumul Mand Conv Preferred Stock, Series Q
Ticker Symbol: LBHGP* CUSIP: 52520W218 Exchange: OTOTC
Security Type: Mandatory Convertible Security
* NOTE: This security is no longer trading as of 7/01/2011
Security's Distribution is Suspended!
QUANTUMONLINE.COM SECURITY DESCRIPTION: Lehman Brothers Holdings Inc., 8.75% Non-Cumulative Mandatory Convertible Preferred Stock, Series Q, liquidation preference $1000 per share. The preferred shares are mandatorily convertible on 7/1/2011 into a variable number of Lehman Brothers Holdings Inc. (NYSE: LEH) common shares based on the then current price of the common shares for 20 trading day period ending on the third trading day prior to the conversion date. The conversion settlement rate will be 30.2663 shares per unit if the then current market price is equal to or greater than $33.04 and 35.7142 shares per unit if the market price is equal to or less than $28.00. For market prices between those values the settlement rate will be $1000 divided by the market value. The last reported sale price of the common stock on 6/6/2008 was $32.29 per share. The preferred shares are convertible any time at the holder’s option into 30.2663 shares of common stock. Distributions of 8.75% ($87.50) per annum will be paid quarterly on 1/1, 4/1, 7/1 & 10/1 to holders of record on the record date fixed by the boardof directors (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by the preferred are eligible for the 15% tax rate on dividends under normal holding restrictions and are also eligible for the dividends received deduction for corporate holders (see page S-8 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds of the company and senior to the common shares of the company. See the IPO prospectus for further information on the mandatory convertible preferred stock and their mandatory conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below. The Preferred Stock will not be listed on any securities exchange or included in any automated quotation system.
Stock
Exchange Cpn Rate
Ann Amt LiqPref
CallPrice Call Date
Matur Date Moodys/S&P
Dated Conversion
Shares@Price Distribution Dates 15%
Tax Rate
OTOTCn
OTOTCps
8.75%
$87.5 $1,000.00
n.a. 7/01/2011
7/01/2011 WR NF
6/20/2011 30.2663@$33.04+
35.7142@$28.00- Suspended!
1/1, 4/1, 7/1 & 10/1
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
YES
Go to Parent Company's Record (LEHMQ)
Notes: September 15, 2008 -- Lehman Brothers Holdings Inc. (LBHI) stated that it has filed a petition under Chapter 11 of the U.S. Bankruptcy Code with the United States Bankruptcy Court for the Southern District of New York. None of the broker-dealer subsidiaries or other subsidiaries of LBHI was included in the Chapter 11 filing and all of the U.S. registered broker-dealers will continue to operate.
IPO - 6/9/2008 - 2.00 Million Shares @ $1000.00/share. Link to IPO Prospectus
Market Value $2.0 Billion
Company's Online Information Links
HOME PAGE: http://www.lehman.com/
Company's Investor Relations Information Go to Investor Relations Information
Company's Online News Releases Go to News Releases
Online Company Profile Go to Online Profile
Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC Filings
Company's Email Address Links
Inv Rel Email Address sbutler@lehman.com
General Email Address inquiry@lehman.com
Email Contact Form on Website Go to Email Form
Address and Phone Numbers
Address: 745 Seventh Avenue, 15th Floor, New York, NY 10019
Main Phone Number 212-526-7000
Fax Number 212-526-3738
Investor Relations Shaun K. Butler 212-526-3267
Toll Free Phone Number 800-666-2388
CEO - Richard S. Fuld, Jr. CFO - Erin M. Callan
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