By Jennifer Chiou
New York, Oct. 20 - Lehman Brothers Holdings Inc. priced a $25 million issue of 0% Foreign Exchange Range Notes due May 3, 2007 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 between Oct. 20, 2006 and April 24, 2007. Otherwise, the payout will be par.
The reference range is 1.202 dollars per euro to 1.322 dollars per euro.
Issuer: | Lehman Brothers Holdings Inc.
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Issue: | Foreign Exchange Range Notes
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Underlying exchange rate: | Euro/dollar
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Amount: | $25 million
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Maturity: | May 3, 2007
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | 106% of par if the exchange rate remains within the reference range, otherwise par
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Initial exchange rate: | 1.262 dollars per euro
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Reference range: | 1.202 dollars per euro to 1.322 dollars per euro
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Pricing date: | Oct. 20
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Settlement date: | Nov. 3
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Underwriter: | Lehman Brothers Inc.
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