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Lehman to price Range Notes linked to euro, Mexican peso
By Angela McDaniels
Seattle, Nov. 30 - Lehman Brothers Holdings Inc. plans to price an issue of six-month Double Conditional Range Notes linked to the euro/dollar spot exchange rate and the Mexican peso/dollar spot exchange rate, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus a fixed return of between 7% and 8% if both exchange rates have traded strictly within their respective reference ranges. If either exchange rate trades outside of its reference range, the payout at maturity will be par.
The exact fixed payment will be determined at pricing.
The reference range for the euro/dollar spot exchange rate, expressed as the number of dollars per euro, will be 7.5 cents higher and lower than the initial spot exchange rate.
The upper boundary of the reference range for the Mexican peso/dollar spot exchange rate, expressed as the number of dollars per Mexican peso, will be 50 cents more than the initial spot exchange rate, and the lower boundary will be 55 cents less than the initial spot exchange rate.
Lehman Brothers Inc. will underwrite the offering.
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