Lehman plans to price range notes linked to six-month Libor

By E. Janene Geiss

Philadelphia, Oct. 29 - Lehman Brothers Holdings Inc. plans to price an issue of range notes due Nov. 30, 2017 linked to six-month Libor, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to price Nov. 27 and settle Nov. 30.

The notes pay an interest rate that will be determined at pricing and expected to be 8% to 9% multiplied by the proportion of days for which six-month Libor is at least 0% and less than or equal to 6% during the life of the notes.

Interest is payable semiannually.

The notes will be callable on each interest payment date after May 30, 2008.

Lehman Brothers Inc. is underwriter.

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