New Issue: Lehman prices $368,000 notes linked to four Asian currencies

By Susanna Moon

Chicago, Nov. 27 - Lehman Brothers Holdings Inc. priced a $368,000 issue of zero-coupon 100% principal-protected notes due June 1, 2009 linked to a basket of currencies, according to a 424B2 filing with the Securities and Exchange Commission.

The equally weighted basket consists of the spot exchange rates against the U.S. dollar of the Indonesian rupiah, the Indian rupee, the Malaysian ringgit and the Singapore dollar.

If the basket appreciates from the initial level, the payout at maturity will be par plus 210% of the basket gain. Investors will receive at least par.

Lehman Brothers Inc. is the underwriter.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	100% principal-protected notes
Underlying currencies:	Equal weights of spot exchange rates against the U.S. dollar of the Indonesian rupiah, the Indian rupee, the Malaysian ringgit and the Singapore dollar
Amount:	$368,000
Maturity:	June 1, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 210% of any basket appreciation; floor of par
Initial spot rates:	9,367 for rupiah, 39.68 for rupee, 3.3536 for ringgit and 1.4415 for Singapore dollar
Pricing date:	Nov. 26
Settlement date:	Nov. 30
Underwriter:	Lehman Brothers Inc.
Fees:	0.5%

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