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Lehman to issue FX Range Notes linked to the euro/dollar exchange rate
By Angela McDaniels
Seattle, Oct. 13 - Lehman Brothers Holdings Inc. plans to price an issue of six-month Foreign Exchange Range Notes linked to the euro/dollar spot exchange rate, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be 106% of par if the euro/dollar spot exchange rate remains within the reference range during the life of the notes.
The lower boundary of the reference range will be 6 cents lower than the exchange rate, expressed as dollars per euro, on the pricing date. The higher boundary will be 6 cents higher than the exchange rate.
If the euro/dollar spot exchange rate falls outside the reference range during the life of the notes, payout at maturity will be par.
There will be no interest payments.
Lehman Brothers Inc. will be the underwriter for the offering.
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