Lehman releases details on principal-protected bull notes linked to mixed China basket

By Laura Lutz

Des Moines, Feb. 11 - Lehman Brothers Holdings Inc. announced more details of its issue of zero-coupon 100% principal-protected China bull notes linked to an index, currency and commodity basket, according to an FWP filing with the Securities and Exchange Commission.

The notes now are expected to mature on Feb. 28, 2012.

The payout terms were amended to add a cap at 160% of par.

Under the revised terms, the payout at maturity will be par plus any gain on the basket, capped at 160% of par. Investors will receive at least par.

The basket consists of the Hang Seng index with a 33.34% weight, the spot rate of the Chinese renminbi against the dollar with a 33.34% weight, copper - grade A with a 16.66% weight and light sweet crude oil with a 16.66% weight.

Pricing and settlement were set at Feb. 25 and Feb. 28, respectively.

Lehman Brothers Inc. is 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.