Using loops in backbone/underscore's templates

I have a backbone.js/underscore.js template that I am feeding into a backbone view for rendering. The View is passed a model that contains an array posts of objects (which I call post in the template).

Problem: When I try to loop through all the elements of the array posts, I get an error Uncaught SyntaxError: Unexpected token ) and refers a line in the backbone View's code template: _.template( $('#tpl_SetView').html() ).

Am I doing the loop incorrectly which is causing this error?

Template code

<script type="text/template" id="tpl_SetView">
    <div class="row_4">
        <div class="photo_container">
            <div class="set_cover">
                <img src="/<%= posts[0].thumb_subpath %><%= posts[0].img_filename %>" width=240 />
            </div>
            <div class="set_thumbs">
                <%= _.each(posts, function(post) { %>
                    <img src="<%= post.thumb_subpath %><%= posts.img_filename %>" width=55 />
                <%= }); %>
            </div>
        </div>
    </div>
</script>