Lehman plans 33.5% reverse exchangeables linked to Research In Motion

By Susanna Moon

Chicago, Nov. 28 - Lehman Brothers Holdings Inc. plans to price 33.5% reverse exchangeable notes due March 12, 2008 linked to the common stock of Research In Motion Ltd., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

Payout at maturity will be par unless Research In Motion stock falls below the knock-in price - 70% of the initial value - during the life of the notes and finishes below its initial price, in which case the payout will be a number of Research In Motion shares equal to $1,000 divided by the initial share price.

The notes will price on Dec. 7 and settle on Dec. 12.

Lehman Brothers Inc. is the underwriter.

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