Lehman Brothers Financial SA (LEHNQ)

[stockbum9]

The Prospectus is clear that the CT's guarantee is totally based on what takes place with the junior subordinated debt securities they are connected to:

The guarantee covers the payment of distributions and other payments on the preferred securities only if and to the extent that Lehman Brothers Holdings has made a payment of interest or principal or other payments on the junior subordinated debt securities. The guarantee, when taken together with Lehman Brothers Holdings' obligations under the junior subordinated debt securities and the indenture and its obligations under the declaration, will provide a full and unconditional guarantee of distributions and all other amounts due on the preferred securities (CTs).