Published on 3/17/2008 in the Prospect News Structured Products Daily.
New Issue: Lehman prices $505,000 principal-protected notes linked to rupee, renminbi
By Angela McDaniels
Tacoma, Wash., March 17 - Lehman Brothers Holdings Inc. priced $505,000 of zero-coupon principal-protected notes with enhanced participation due March 20, 2012 linked to a basket containing equal weights of the Indian rupee and Chinese renminbi, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 130% of any basket appreciation relative to the dollar. If the basket remains flat or depreciates relative to the dollar, the payout will be par.
Lehman Brothers Inc. is the underwriter.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Principal-protected notes with enhanced participation
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Underlying currencies: | Indian rupee and Chinese renminbi, equally weighted
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Amount: | $505,000
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Maturity: | March 20, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 130% of any basket appreciation versus the dollar; floor of par
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Initial exchange rates: | 40.75 rupees per dollar; 7.0882 renminbi per dollar
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Pricing date: | March 14
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Settlement date: | March 20
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Underwriter: | Lehman Brothers Inc.
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Fees: | 0.5%
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