Lehman Brothers Financial SA (LEHNQ)

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Continue, what can we learn from the lp 4 and lp 5 ECAPS' payments scheduled for 10/28/20? More good stuff!

1) ECAPS' LP 4 and LP 5 are being paid their money market funds, $11.61 million and $25 million, respectively. These two partnerships invested in the money market with some of their funds, when their ECAPS were first sold to the public, and purchased class 10a notes from LBHI with the remaining funds. The LBSF $2 million swap payment may not be included in this payout!

Note: ECAPS' LP 3 has money market funds as well, but no scheduled payout yet! Read the tea leaves...

2) The BNYM is the paying agent for the ECAPS and CTs. The notice came out on 10/19/20 with a settlement date of 10/21/20, leaving very little time to buy more ECAPS. CTs may follow the same payment method and short settlement notice timeframe.

3) LP 5 has a face value of $500 million. You can always play with numbers. If the face value is $1000 per share, that means that their are 500,000 shares outstanding for LP 5. So a, $25 million payout is 5% of $500 million or $50 a share for a price that was low as 3 cents per share for LP 5.

4) LBHI's bankruptcy waterfall would pay any class 10a ECAPS' liabilities due before paying any class 10b CTs' liabilities due.

5) LBHI and Barclays and LBIE may have our CTs' obligations on the table in the war room!

Use your own data to invest your money.