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Lehman plans to price principal-protected notes linked to copper
By Jennifer Chiou
New York, Dec. 6 - Lehman Brothers Holdings Inc. plans to price an issue of 0% one-year bullish principal-protected notes linked to the price of copper, according to an FWP filing with the Securities and Exchange Commission.
The notes are expected to price on Dec. 15 and settle on Jan. 5.
If the price of copper hits the upper limit during the life of the notes, the payout will be 130% of par. Otherwise, the payout at maturity will be par plus a return equal to any positive appreciation in the price of copper. Investors will receive at least par.
The upper limit is expected to be 130% of the copper strike price.
Lehman Brothers Inc. will be the underwriter.
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