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Lehman to sell buffered enhanced participation notes linked to SPDR S&P Homebuilders
By Susanna Moon
Chicago, March 7 - Lehman Brothers Holdings Inc. plans to price 0% buffered enhanced participation notes due March 19, 2010 linked to the SPDR S&P Homebuilders exchange-traded 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 64% and 84%, with the exact cap to be set at pricing. Investors will receive par if the shares fall by up to 10% and will lose 1.11111% for each 1% that the shares drop beyond 10%.
The notes are expected to price on March 14 and settle on March 19.
Lehman Brothers Inc. will be the underwriter.
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