Meteor Asset Management has announced new payment for investors in its Lehman-backed structured products.
According to Meteor, the distribution was just below 2.44% of the allowable claim amount and brings the total paid to just under 6.05%.
"As outlined in previous updates, the allowable claim amount is based on the value of the securities as at the time LBHI entered bankruptcy protection and is not the same as the amount you invested," said Meteor.
The independent UK structured products firm said that the allowable claim amount is calculated in US dollars and that the monies paid into clients' accounts in respect of each LBHI distribution will be affected by changes in the exchange rate between US dollars and sterling, except for the small number of securities denominated in US dollars.
Meteor also said that the current distributions have been received from LBHI, the Lehman Brothers parent company, in respect of the guarantees they provided for securities issued by Lehman Brothers Securities (LBS) and Lehman Brothers Treasury (LBT).
"Neither LBS nor LBT has announced a date from which they will commence distributions," it said.
According to Meteor, LBHI has also confirmed that the third distribution will be paid in March 2013.
In total, 12 Lehman-backed products with an estimated value of £12m were sold by Meteor, according to SRP data.