National Bank Holdings prices IPO below range: source

(Reuters) - National Bank Holdings Corp priced its initial public offering of 7.15 million class A shares at $19.25 per share, below its expected price range, according to a market source.

The lender, led by former Bank of America Corp (BAC.N) executive Timothy Laney, said last week it planned to sell its shares at between $20 and $22 per share.

The Colorado-based firm did not receive any proceeds from the offering as all the shares were sold by stakeholders, including hedge fund Elliott Management.

National Bank Holdings raised funds after the financial crisis of 2008 as investors tried to buy banks cheaply, hoping they could take them public or sell them later at a profit.

Top hedge funds including Paulson & Co, Wellington Management, Farallon Partners and Greenlight Capital are among the bank's shareholders.

Its shares are expected to begin trading on Thursday on the New York Stock Exchange under the symbol "NBHC".

Goldman Sachs & Co, Keefe Bruyette & Woods were lead underwriters of the offering.

(Reporting by Ashutosh Pandey in Bangalore; Editing by Daniel Magnowski)