Lehman to price $10 million notes linked to International Game Technology at 1%, up 12.04%

By Jennifer Chiou

New York, March 23 - Lehman Brothers Holdings Inc. plans to price $10 million of 1% performance-linked medium-term senior notes due March 29, 2014 performance linked to International Game Technology common stock, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will have an exchange premium of 112.04% of the price Lehman will pay to hedge the notes.

The notes will have a cash or stock payout at maturity linked to International Game Technology and can be converted at any time for stock at the holder's option.

The notes are expected to settle on March 29 and have a $1.5 million greenshoe.

Lehman Brothers, the underwriter, will receive a 0.13% fee.

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