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Lehman to price enhanced participation notes linked to Asian currency basket
By Angela McDaniels
Seattle, Aug. 2 - Lehman Brothers Holdings Inc. plans to offer zero-coupon principal-protected notes with enhanced participation due March 5, 2009 linked to a basket of Asian currencies, according to an FWP filing with the Securities and Exchange Commission.
The basket will include equal weights of the Indian rupee, Indonesian rupiah, Malaysian ringgit and Singapore dollar.
The payout at maturity will be par plus any appreciation of the basket relative to the U.S. dollar multiplied by the participation rate, which will be at least 240% and will be determined at pricing.
The notes are expected to price Aug. 27 and settle Aug. 31.
Lehman Brothers Inc. will be the underwriter.
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