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Lehman to price European appreciation basket notes for Svensk
By Jennifer Chiou
New York, May 24 - Lehman Brothers Inc. plans to price 18-month zero-coupon European appreciation basket notes linked to a basket of currencies for issuer AB Svensk Exportkredit, according to a 424B2 filing with the Securities and Exchange Commission.
The basket will include the Swedish krona, Norwegian krone, Russian ruble and Hungarian forint, all against the dollar.
The payout at maturity will be par plus 115% to 120% of any basket gain. Investors will receive par plus a supplemental payment if the basket declines or stays even. The supplemental payment is expected to be 3%.
The notes will price and settle in June.
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