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Lehman plans FX note linked to Asian currency basket
By E. Janene Geiss
Philadelphia, April 16 - Lehman Brothers Holdings Inc. plans to price two-year 100% principal protection FX notes linked to a basket of currencies, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of equal weights (20%) of the Indonesian rupiah, Indian rupee, Hong Kong dollar, Singapore dollar and Malaysian ringgit.
If the final basket level is at least the initial level, the payout at maturity will be par plus any gain on the basket times a participation rate that will be at least 300% to 320%. The exact participation rates will be set at pricing.
Investors will receive at least par.
Lehman Brothers Inc. is the underwriter.
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