New Issue: Lehman prices $3 million Range Notes linked to six-month Libor

By Angela McDaniels

Seattle, Jan. 26 - Lehman Brothers Holdings Inc. priced a $3 million issue of Range Notes due Feb. 15, 2022 linked to six-month Libor, according to an FWP filing with the Securities and Exchange Commission.

The notes will bear interest at a specified rate for each day six-month Libor is equal to or greater than 0% and equal to or less than 7%. The specified rate will initially be 7% and will step up to 10% on Feb. 15, 2012. Interest will be payable quarterly.

The notes will be callable on each interest payment date beginning May 15, 2007.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Range Notes
Amount:	$3 million
Maturity:	Feb. 15, 2022
Coupon:	7% for each day six-month Libor remains within the reference range through Feb. 14, 2012; 10% for each day six-month Libor remains within the reference range beginning Feb. 15, 2012; payable quarterly
Reference range:	0% to 7%, inclusive
Price:	97.5%
Callable:	On interest payment dates beginning May 15, 2007
Payout at maturity:	Par
Pricing date:	Jan. 26
Settlement date:	Feb. 15
Underwriter:	Lehman Brothers Inc.

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