New Issue: Lehman prices $10.5 million principal protection notes linked to four Asian currencies

By E. Janene Geiss

Philadelphia, June 27 - Lehman Brothers Holdings Inc. priced a $10,501,790 issue of zero-coupon 100% principal protection notes due June 30, 2009 linked to a basket of Asian currencies, according to a 424B2 filing with the Securities and Exchange Commission.

UBS Financial Services Inc. and Lehman Brothers Inc. are the underwriters.

The basket includes equal weights (25%) of the Chinese renminbi, Indonesia rupiah, Indian rupee and Philippine peso, all versus the dollar.

The payout at maturity will be par of $10 plus any basket gain multiplied by a participation rate of 220%. Investors will receive at least par.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	100% principal protection notes
Underlying currencies:	Equal weights (25%) of the Chinese renminbi, Indonesia rupiah, Indian rupee, Philippine peso, all versus the dollar
Amount:	$10,501,790
Maturity:	June 30, 2009
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 220% of any basket gain; floor of par
Initial spot rates:	7.6190 for Chinese renminbi; 9,035 for Indonesia rupiah; 40.78 for Indian rupee; 46.15 for Philippine peso
Pricing date:	June 25
Settlement date:	June 29
Underwriters:	UBS Financial Services Inc., Lehman Brothers Inc.
Fees:	2%

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