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Lehman to price principal-protected notes linked to rupee, rupiah
By Angela McDaniels
Seattle, July 25 - Lehman Brothers Holdings Inc. plans to price zero-coupon principal-protected notes due Feb. 1, 2008 linked to equal weights of the Indian rupee and the Indonesian rupiah, according to an FWP filing with the Securities and Exchange Commission.
The notes are expected to price on July 27 and settle on Aug. 2.
If the basket currencies appreciate relative to the dollar, the payout at maturity will be par plus a fixed return that is expected to be 4.25% and will be determined at pricing. 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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