Lehman Brothers Financial SA (LEHNQ)

[MikeJones8]

The guarantee goes out the window (this comes
from the prospectus) if:

Lehman Brothers Holdings is not required to pay you under the guarantee if the trust does not have cash available.

        The ability of the trust to make payments on the preferred securities is solely dependent upon Lehman Brothers Holdings making the related payments on the junior subordinated debt securities when due.

        If Lehman Brothers Holdings defaults on its obligations to make payments on the junior subordinated debt securities, the trust will not have sufficient funds to make payments on the preferred securities. In those circumstances, you will not be able to rely upon the guarantee for payment of these amounts.