Lehman CDS will recover 8.625 pct after auction

NEW YORK Oct 10 (Reuters) - Sellers of protection on bankrupt Lehman Brothers LEH.N (LEHMQ.PK) will have to pay out 91.375 percent of the insurance they sold, based on the results of an auction on Friday to determine the value of the credit default swaps.

The final value of the contracts, which are estimated to be around $400 billion in volume, will be 8.625 percent, according to results published by auction administrators Creditex and Markit.