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Lehman to price partial-protected FX notes linked to international currency basket
By Jennifer Chiou
New York, Feb. 20 - Lehman Brothers Holdings Inc. plans to price 90% principal-protected foreign exchange notes due March 2, 2009 linked to a basket of international currencies, according to an FWP filing with the Securities and Exchange Commission.
The basket will include equal weights (20%) of the Chinese renminbi, Indian rupee, Russian ruble, Australian dollar and New Zealand dollar, all versus the U.S. dollar.
The payout at maturity will be par plus 150% of any basket gain. Investors will share in losses up to 10%.
The notes are expected to price on Feb. 21 and settle on Feb. 28.
Lehman Brothers Inc. will be the underwriter.
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