Lehman to issue principal-protected notes linked to light sweet crude oil

By Jennifer Chiou

New York, Feb. 8 - Lehman Brothers Holdings Inc. plans to price an issue of 0% principal-protected single-barrier notes with an expected maturity of one year after the issue date linked to the price of light sweet crude oil, according to an FWP filing with the Securities and Exchange Commission.

At maturity, investors will receive the greater of the crude oil return and par if the price is less than the upper barrier on each business day during the observation period. If the oil price is greater than the upper barrier on any exchange day, investors will receive 3%.

The upper barrier is expected to be 130%. The exact barrier level will be set at pricing.

Lehman Brothers Inc. will be the underwriter for the offering.

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