New Issue: Lehman prices $1 million enhanced participation notes linked to copper, zinc

By E. Janene Geiss

Philadelphia, July 17 - Lehman Brothers Holdings Inc. priced a $1 million issue of principal-protected enhanced participation notes due July 23, 2009 linked to equal weights (50%) of copper - grade A and special high grade zinc, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 125% of the basket return. If the basket declines, investors will receive par.

Lehman Brothers Inc. will be the agent for the offering.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Enhanced participation notes
Underlying commodities:	Equal weights of copper - grade A and special high grade zinc
Amount:	$1 million
Maturity:	July 23, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any positive return on the basket; par if basket declines
Upside participation rate:	125%
Commodity strike price:	$7,967.50 for copper; $3,545.50 for zinc
Pricing date:	July 16
Settlement date:	July 23
Underwriter:	Lehman Brothers Inc.
Fees:	0.45%

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