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Lehman to price principal-protected range notes linked to Canadian dollar
By Susanna Moon
Chicago, July 17 - Lehman Brothers Holdings Inc. plans to price three-month principal-protected range notes linked to the Canadian dollar relative to the U.S. dollar, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus a fixed return of 1 7/8% if the reference exchange rate trades within its range throughout the life of the notes. Investors will receive at least par.
The upper boundary of the reference range for the Canadian dollar will be C$0.04965 more than the initial spot exchange rate, and the lower boundary will be C$0.03035 less than the initial spot exchange rate.
Pricing and settlement dates were not disclosed in the filing.
Lehman Brothers Inc. is the underwriter.
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