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Lehman to price buffered return enhanced notes linked to Financial Select Sector SPDR fund
By Jennifer Chiou
New York, Feb. 4 - Lehman Brothers Holdings Inc. plans to price 0% buffered return enhanced notes due Feb. 26, 2010 linked to the Financial Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain on the fund, capped at between 36% and 44%. The exact cap will be determined at pricing.
Investors will receive par if the fund declines by less than 10%. Investors will share in losses beyond 10%.
The notes will price on Feb. 22 and settle on Feb. 29.
Lehman Brothers Inc. will be the underwriter.
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