New Issue: Lehman prices $33.7 million curve notes linked to CMS rate

By Jennifer Chiou

New York, Feb. 2 - Lehman Brothers Holdings Inc. priced a $33.7 million issue of Curve Trade Notes due Feb. 16, 2017 linked to the CMS (constant maturity swap) rate, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay interest at 8.92% until Feb. 16, 2009. After that, the interest payments will be 8.92% multiplied by the proportion of days on which the five-year CMS (constant maturity swap) rate is more than 15 basis points higher than the two-year CMS rate

Interest will be payable semiannually.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Curve Trade Notes
Amount:	$33.7 million
Maturity:	Feb. 16, 2017
Coupon:	8.92% until Feb. 16, 2009; after that, 8.92% times proportion of days on which the five-year CMS (constant maturity swap) rate is more than 15 basis points higher than the two-year CMS rate
Price:	Par
Payout at maturity:	Par
Pricing date:	Feb. 1
Settlement date:	Feb. 16
Underwriter:	Lehman Brothers Inc.

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