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Lehman to price buffered return enhanced notes linked to Financial Select Sector SPDR Fund
By E. Janene Geiss
Philadelphia, Feb. 5 - Lehman Brothers Holdings Inc. plans to price 0% buffered return enhanced notes due Feb. 22, 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 index, subject to a maximum return that is expected to be 43% to 49% and will be determined at pricing. Investors will receive par if the index declines by 10% or less and will lose 1.11111% for each 1% decline beyond 10%.
The notes are expected to price Feb. 14 and settle Feb. 20.
Lehman Brothers Inc. will be the underwriter.
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