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For illustration purposes only and as a hypothetical example, if Reference Entity A becomes insolvent in 2007, a Bankruptcy Credit Event would occur in respect of it and all the Notes of this Series would redeem early, even though the maturity of the Notes is scheduled for 29 May 2012 and even though no Credit Event would have occurred to any of the other six Reference Entities.
Minibond Series 2 Pricing Statement which, shock and horror, actually tells you you’re “providing credit protection” to Lehman Brothers SF!
