Lehman Brothers Financial SA (LEHNQ)

[DJN]

since we are discussing LEHJQs as I do love my Js :P.

I think you guys are getting close to solving this ongoing puzzle and it's starting to make some sense.

https://www.quantumonline.com/search.cfm

"Depositary Shares" = depositary receipts

https://www.investopedia.com/terms/d/depositaryreceipt.asp

QUANTUMONLINE.COM SECURITY DESCRIPTION: Lehman Brothers Holdings Inc., 7.95% Depositary Shares each representing 1/100th of a share of the 7.95% Non-Cumulative Perpetual Preferred Stock, Series J, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 2/15/2013 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 7.95% ($1.9875) per annum are paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date which is the first day of the month in which the payment is due (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-29 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

https://www.sec.gov/Archives/edgar/data/806085/000104746908000953/a2182499z424b2.htm


This is a public offering by Lehman Brothers Holdings Inc. of 66,000,000 depositary shares, each representing 1/100th of a share of 7.95% Non-Cumulative Perpetual Preferred Stock, Series J. Each depositary share entitles the holder, proportionately, to all rights, preferences and privileges of the Preferred Stock represented by that depositary share. We will deposit the Preferred Stock with Computershare Trust Company N.A., as depositary. The proportionate stated value of each depositary share is $25.00.