New Issue: Lehman prices $30 million 8% Yeelds linked to International Game Technology

By Jennifer Chiou

New York, June 1 - Lehman Brothers Holdings Inc. priced a $30 million issue of notes due June 7, 2008 structured as Yield Enhanced Equity Linked Debt Securities (Yeelds) linked to International Game Technology stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

At maturity, investors will receive the value of one share of International Game Technology stock, capped at $46.0282, 113.92% of the initial value of $40.404 that Lehman paid to hedge the transaction. The payout will be payable in stock or cash.

Lehman Brothers Inc., the underwriter, has a greenshoe for up to $4,499,995.50 of additional securities.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Yeelds (Yield Enhanced Equity Linked Debt Securities) medium-term senior notes, series I
Underlying stock:	International Game Technology
Amount:	$30,000,010.40
Greenshoe:	$4,499,995.50
Maturity:	June 7, 2008
Coupon:	8%, payable monthly
Price:	Par of $40.404
Payout at maturity:	Value of one share of International Game Technology stock, capped at $46.0282, payable in stock or cash
Cap price:	$46.0282, 113.92% of initial value
Pricing date:	May 31
Settlement date:	June 7
Underwriter:	Lehman Brothers Inc.
Fees:	None

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