Published on 9/26/2007 in the Prospect News Structured Products Daily.
New Issue: Lehman prices $11 million FX notes linked to best of three currency baskets
By E. Janene Geiss
Philadelphia, Sept. 26 - Lehman Brothers Holdings Inc. priced an $11 million issue of zero-coupon principal-protected foreign exchange notes due Sept. 28, 2009 linked to the best of three baskets of currencies, according to an FWP filing with the Securities and Exchange Commission.
The first basket includes the Brazilian real with a 33.34% weight, the Argentine peso with a 33.33% weight and the Mexican peso with a 33.33% weight, all versus the dollar.
The second basket includes equal weights (25%) of the Israeli shekel, Hungarian forint, Turkish lira and the Russian ruble, all versus the dollar.
The third basket includes equal weights (25%) of the Indonesian rupiah, Indian rupee, Malaysian ringgit and the Singapore dollar, all versus the dollar.
At maturity, investors will receive par plus 150% of the greatest of the three basket returns. If none of the baskets appreciates against the dollar, investors will receive par.
Lehman Brothers Inc. will be the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Foreign Exchange notes
|
| Underlying baskets: | First basket includes Brazilian real (33.34% weight), Mexican peso and Argentine peso (33.33% weight); Second basket includes equal weights (25%) of Israeli shekel, Hungarian forint, Turkish lira and Russian ruble; Third basket includes equal weights (25%) of Indonesia rupiah, Indian rupee, Malaysian ringgit and Singapore dollar
|
| Amount: | $11 million
|
| Maturity: | Sept. 28, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of the greatest of the three basket returns; floor of par
|
| Initial exchange rates: | First basket: 1.8656 for real, 3.1700 for Mexican peso, 10.9517 for Argentine peso; Second basket: 1.2339 for lira, 177.68 for forint, 4.0297 for shekel, 25.0275 for ruble; Third basket: 9163 for rupiah, 39.81 for rupee, 1.5007 for Singapore dollar, 3.4333 for ringgit
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 28
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 1.5%
|
© 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.
