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Lehman to price principal-protected notes linked to India, China currency basket
By Jennifer Chiou
New York, Dec. 6 - Lehman Brothers Holdings Inc. plans to price zero-coupon principal-protected notes with enhanced participation due Jan. 11, 2012 linked to equal weights of the Indian rupee and Chinese renminbi, according to an FWP filing with the Securities and Exchange Commission.
The notes are expected to price on Jan. 7 and settle on Jan. 11.
If the basket currencies appreciate relative to the dollar, the payout at maturity will be par plus the basket return multiplied by a participation rate of at least 135%. If the basket currencies remain flat or depreciate relative to the dollar, the payout will be par.
Lehman Brothers Inc. will be the underwriter.
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