New Issue: Lehman upsizes to $7.521 million principal-protected notes linked to basket of four base metals

By E. Janene Geiss

Philadelphia, June 28 - Lehman Brothers Holdings Inc. upsized to $7.521 million its offering of 100% principal protection notes due June 29, 2010 linked to a basket of base metals, according to an FWP filing with the Securities and Exchange Commission.

The issue initially priced on June 22 at a size of $7.471 million and was subsequently upsized by $50,000 and $45,000.

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

At maturity, investors will receive par plus any positive return on the basket if the basket return is greater than 30%. Investors will receive par plus 30% if the basket return is better than a loss of 8.00%, but less than or equal to 30%. Investors will receive par if the basket loses 8.00% or more.

Lehman Brothers Inc. is the underwriter.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Principal-protected bonus notes
Underlying assets:	Equal weights of grade A copper, primary nickel, high grade primary aluminum and special high grade zinc
Amount:	$7.521 million
Maturity:	June 29, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any positive return on the basket if the return is greater than 30%; par plus 30% is the basket return is better than a loss of 8%, but less than or equal to 30%; par if the basket loses 8% or more
Initial strike prices:	$7,510 for copper, $37,605 for nickel, $3,525 for zinc and $2,659.50 for aluminum
Pricing date:	June 22
Settlement date:	June 29
Underwriters:	Lehman Brothers Inc.
Discount:	2%

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