Lehman to issue FX Range Notes linked to the Brazilian real/dollar exchange rate

By Laura Lutz

Des Moines, Jan. 12 - Lehman Brothers Holdings Inc. plans to price an issue of two-month Foreign Exchange Range Notes linked to the Brazilian real/dollar spot exchange rate, according to an FWP filing with the Securities and Exchange Commission.

Payout at maturity will be 102.34% of par if the Brazilian real/dollar spot exchange rate remains between the initial exchange rate and the reference level. The reference level will be 0.35 cents lower than the exchange rate.

If the euro/dollar spot exchange rate falls outside the reference range during the life of the notes, payout at maturity will be par.

There will be no interest payments.

Lehman Brothers Inc. will be the underwriter for the offering.

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