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Lehman plans protected FX notes linked to four currencies
By Susanna Moon
Chicago, April 30 - Lehman Brothers Holdings Inc. plans to price two-year 100% principal protection FX notes linked to the performance of a basket of currencies against the dollar, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of equal weights (25%) of the euro, British pound sterling, Canadian dollar and Swiss franc.
Payout at maturity will be par plus any gain on the basket times a participation rate that will be 115% to 130%. The exact rate will be set at pricing.
Investors will receive at least par.
The notes are expected to price and settle sometime in 2008.
Lehman Brothers Inc. is the underwriter.
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