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Lehman Brothers plans principal protection notes linked to S&P 500
By Laura Lutz
Des Moines, April 4 - Lehman Brothers Holdings Inc. plans to price 100% principal protection notes with annual interest due April 30, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will bear interest at between 1.75% and 2.25%. The exact rate will be set at pricing. Interest will be payable annually.
The payout at maturity will be par plus any amount by which the index return exceeds an equity strike percentage. Investors will receive at least par.
The equity strike percentage will be between 8.75% and 12.5%, with the exact amount to be set at pricing.
The notes are expected to price on April 24 and settle on April 30.
Lehman Brothers Inc. is the underwriter.
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