Lehman plans to price principal-protected notes linked to gold

By Angela McDaniels

Seattle, Nov. 29 - Lehman Brothers Holdings Inc. plans to price an issue of 0% one-year bullish principal-protected notes linked to the price of gold, according to an FWP filing with the Securities and Exchange Commission.

If the price of gold hits the upper limit during the life of the notes, the payout will be 105% of par. Otherwise, the payout at maturity will be par plus a return equal to any positive appreciation in the price of gold. Investors will receive at least par.

The upper limit will be more than 5% above the initial gold price, is expected to be between $145.00 and $165.00 per troy ounce and will be determined at pricing.

Lehman Brothers Inc. will be the underwriter.

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