Lehman to price principal-protected notes linked to currency basket

By E. Janene Geiss

Philadelphia, Aug. 6 ? Lehman Brothers Holdings Inc. plans to price zero-coupon principal-protected notes due March 5, 2009 linked to equal weights of the Brazilian real, Malaysian ringgit, Indonesian rupiah and Philippine peso, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to price Aug. 27 and settle Aug. 31.

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 12.6% 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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.