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Lehman to price principal-protected notes linked to four Asian currencies
By Angela McDaniels
Seattle, Oct. 1 - Lehman Brothers Holdings Inc. plans to price zero-coupon principal-protected notes with enhanced participation due May 1, 2009 linked to a basket of currencies, according to an FWP filing with the Securities and Exchange Commission.
The basket will include equal weights of the Indonesian rupiah, Indian rupee, Malaysian ringgit and Singaporean dollar.
The payout at maturity will be par plus any appreciation in the basket relative to the U.S. dollar multiplied by a participation rate that will be at least 200% and will be determined at pricing. If the basket remains flat or depreciates relative to the U.S. dollar, the payout will be par.
The notes are expected to price on Oct. 26 and settle on Nov. 1.
Lehman Brothers Inc. will be the underwriter.
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