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

By Susanna Moon

Chicago, Dec. 21 - Lehman Brothers Holdings Inc. plans to price range notes due Jan. 18, 2011 linked to six-month Libor, according to an FWP filing with the Securities and Exchange Commission.

The notes pay an interest rate of about 7% times the proportion of days for which six-month Libor is at least 3.5% 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 beginning July 18, 2008.

The notes are expected to settle on Jan. 18. The pricing date is to be determined.

Lehman Brothers Inc. is underwriter.

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