New Issue: Lehman sells $521,000 principal-protected participation notes linked to currency basket

By E. Janene Geiss

Philadelphia, June 27 - Lehman Brothers Holdings Inc. priced a $521,000 issue of zero-coupon principal-protected notes with enhanced participation due Dec. 29, 2008 linked to a basket of currencies, according to an FWP filing with the Securities and Exchange Commission.

The equally weighted - 25% per component - basket includes the dollar/Indonesia rupiah spot exchange rate, the dollar/Indian rupee spot exchange rate, the dollar/Malaysian ringgit spot exchange rate and the dollar/Singapore dollar spot exchange rate.

The payout at maturity will be par plus a 270% participation rate for each 1% gain on the basket. Investors will receive at least par.

Lehman Brothers Inc. is the agent.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Principal-protected foreign exchange-linked securities
Underlying assets:	Equally weighted dollar/Indonesia rupiah, dollar/Indian rupee, dollar/Malaysian ringgit and dollar/Singapore dollar spot rates
Amount:	$521,000
Maturity:	Dec. 29, 2008
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 270% of any basket gain; floor of par
Initial spot exchange rates:	Dollar/Indonesia rupiah at 9,080, dollar/Indian rupee at 40.87, dollar/Malaysian ringgit at 3.4765and dollar/Singapore dollar at 1.5378
Pricing date:	June 26
Settlement date:	June 29
Underwriter:	Lehman Brothers Inc.
Fees:	0.50%

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