Lehman Brothers Financial SA (LEHNQ)

[marayatano]

You are funny.

You originally said:

I think it is saying that the Capital Trusts were of a Subsidiary Trust which quite frankly I don't understand what that means since the Trustee - The Bank of New York Mellon - is not a subsidiary of LBHI and the Capital Trusts are LBHI Preferred Securities as stated on the Guarantee and not issued from a subsidiary.

I reply and said:

They are subs of LBHI and the shares
were issued by the subsidiary.

You said:

Oh really?


The Guarantee states the CTs are LBHI Preferred Securities and were not issued by a subsidiary.

I said:

These are issued by the subsidiary, not LHBI.

And I said:

Issuer

The trust that is issuing the preferred securities will have no assets other than subordinated debentures issued by Lehman Brothers Holdings. These debentures will have essentially the same terms as the preferred securities. Therefore, the trust can only make payments
on the preferred securities if Lehman Brothers Holdings first makes payments on the subordinated debentures.

Public offering price $25.0000 per preferred security

http://www.sec.gov/Archives/edgar/data/1053521/000104746903008715/a2105395z424b2.htm



The cap trust issued the shares, NOT LHBI.


Also, it is irrelevant who the trustee is, the fact remains, the shares are not issued by LBHI nor the trust company. Micmacpole is on point.


Have a nice day.

So what is it? I have told you that the shares were issued by the Cap Trusts and NOT by LBHI.

Your saying: "CTs are LBHI Preferred Securities and were not issued by a subsidiary".

AND NOW YOUR SAYING: Share were issued by cap trust.


So which is it now? Cap trusts issued the shares or did LBHI issued the shares?

Please make up your mind.

Like I said: The cap trust issued the shares.

imo