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Hartford Life plans principal-protected notes linked to four currencies
By Jennifer Chiou
New York, Aug. 8 - Hartford Life Insurance Co. plans to price zero-coupon principal-protected notes due March 2010 linked to a basket of four currencies, according to an FWP filing with the Securities and Exchange Commission.
The basket includes equal weights of the Russian ruble, Indonesian rupiah, Malaysian ringgit and Singapore dollar, relative to the U.S. dollar.
The payout at maturity will be par plus any basket gain multiplied by a participation rate that will be 100% to 120%. The exact participation rate will be set at pricing. Investors will receive at least par.
The notes are expected to price in August and settle in September.
Merrill Lynch & Co. will be the agent.
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