Lehman to issue enhanced participation notes linked to copper, zinc

By E. Janene Geiss

Philadelphia, July 16 - Lehman Brothers Holdings Inc. plans to price an issue of two-year non-principal protected enhanced participation notes linked to two commodities, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of equal weights (50%) of copper - grade A and special high grade zinc.

The payout at maturity will be par plus any return on the basket times a participation rate that is expected to be between 175% and 225%. The exact participation rate will be set at pricing.

If the basket decreases by 20% or less, investors will receive par. Investors will be fully exposed to any decline of the basket beyond 20%.

The notes are expected to price July 26 and settle July 31.

Lehman Brothers Inc. is the agent.

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