Lehman to issue protected oil-linked dual participation notes

By E. Janene Geiss

Philadelphia, Nov. 30 - Lehman Brothers Holdings Inc. plans to price 100% principal-protected dual participation notes due Dec. 27, 2011 linked to the price of light sweet crude oil, according to an FWP filing with the Securities and Exchange Commission.

Payout at maturity will be par plus 100% of any increase in the price of crude oil. If the price declines, investors will receive par plus 45% to 50% of the absolute value of the return. The exact return rates will be determined at pricing.

The notes are expected to price Dec. 19 and settle Dec. 27.

Lehman Brothers Inc. will be the underwriter.

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