Published on 4/29/2008 in the Prospect News Structured Products Daily.
New Issue: Lehman prices $474,000 FX notes linked to Brick currency basket
By Angela McDaniels
Tacoma, Wash., April 29 - Lehman Brothers Holdings Inc. priced $474,000 of 0% FX basket-linked notes due April 29, 2011 linked to five currencies, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of the Brazilian real, Russian ruble, Indian rupee, Chinese renminbi and South Korean won.
If the basket appreciates relative to the dollar, the payout at maturity will be par plus 1.1% for each 1% appreciation.
If the basket depreciates relative to the dollar, the payout will be par plus 0.55% for each 1% depreciation.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | FX basket-linked notes
|
| Underlying currencies: | Brazilian real, Russian ruble, Indian rupee, Chinese renminbi and South Korean won, equally weighted
|
| Amount: | $474,000
|
| Maturity: | April 29, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.1% for each 1% appreciation of the basket versus the dollar; par plus 0.55% for each 1% depreciation of the basket versus the dollar
|
| Initial exchange rates: | 1.6688 reais per dollar, 23.6673 rubles per dollar, 40.18 rupees per dollar, 6.9949 renminbi per dollar; 993 won per dollar
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 2.5%
|
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