Lehman to issue principal-protected bonus notes linked to metals basket

By Laura Lutz

Des Moines, June 5 - Lehman Brothers Holdings Inc. plans to price an issue of principal-protected bonus notes due June 22, 2010 linked to a basket of metals, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of equal weights of copper - grade A, primary nickel, special high-grade zinc and high-grade primary aluminum.

If the basket gains at least 30%, the payout at maturity will be par plus the basket return.

If the return is at least 0% and less than 30%, the payout will be 130% of par.

The payout will be par if the basket return is negative.

The notes are expected to price and settle in June.

Lehman Brothers Inc. is the underwriter.

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