Lehman plans issue of 7.48% Treyns linked to 10 currencies

By E. Janene Geiss

Philadelphia, April 24 - Lehman Brothers Holdings Inc. plans to price one-year 7.48% Global Cash Total Return Yield Notes (Treyns) linked to an equally weighted basket of 10 currencies versus the dollar, according to an FWP filing with the Securities and Exchange Commission.

The basket includes long positions in the Brazilian real, Mexican peso, Turkish lira, Hungarian forint, Indian rupee, Indonesia rupiah, Norwegian krone, British pound sterling, Australia dollar and New Zealand and a short position in the dollar.

Interest will be payable quarterly.

Payout at maturity will be par plus the basket return. Investors will be exposed to any decline in the basket.

Pricing and settlement of the offering will be determined later.

Lehman Brothers is the agent for the offering.

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