FRANKFURT - Lehman Brothers Capital GmbH, the Germany-based arm of Lehman Brothers Inc., has introduced a new type of warrant on the DAX index of German blue-chip stocks.

The DAX index warrants are the latest in fast-growing German derivatives market.

The DAX warrants, which Lehman Brothers said are the first of their kind in Germany, reward the investor as long as the DAX index stays within a predetermined range.

The warrants will be listed on stock exchanges in Frankfurt, Stuttgart, and Duesseldorf.

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