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Lehman to issue FX Range Notes linked to the euro/dollar exchange rate
By E. Janene Geiss
Philadelphia, June 25 - Lehman Brothers Holdings Inc. plans to price an issue of 100% principal-protected two-month Foreign Exchange Range Notes linked to the euro/dollar spot exchange rate, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be par plus 1.12% (6.72% annual equivalent) if the euro/dollar spot exchange rate remains between the initial exchange rate and the reference level. The reference level will be 0.355 cents lower than the initial exchange rate and 0.0245 cents higher than the initial 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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