Lehman to price 11.03% Yeelds linked to Arch Coal

By Angela McDaniels

Seattle, Jan. 22 - Lehman Brothers Holdings Inc. plans to price an issue of 11.03% Yield Enhanced Equity-Linked Debt Securities (Yeelds) due Jan. 27, 2008 linked to the common stock of Arch Coal, Inc., according to a 424B5 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The payout at maturity will be the value of Arch Coal stock on Jan. 18, 2008, the valuation date. The return will be capped at 120% of par and will be payable in cash or shares at Lehman's option.

The securities are expected to settle on Jan. 26.

Lehman Brothers Inc. will be the underwriter and will have an over-allotment option.

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