Lehman Brothers to price participation notes linked to gold

By Laura Lutz

Des Moines, Sept. 19 - Lehman Brothers Holdings Inc. plans to price capped participation notes without principal protection linked to gold, according to an FWP filing with the Securities and Exchange Commission.

The notes will mature in two years.

If the final price of gold is at least 85% of its initial price, the payout at maturity will be par of $10,000 plus double any positive return on gold, capped at a maximum payout of 120% of par.

Investors will lose 1% for each 1% that gold declines beyond 15%.

Lehman Brothers Inc. will be the underwriter.

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