New Issue: Lehman prices $500,000 principal-protected notes linked to four Asian currencies

By Jennifer Chiou

New York, July 27 - Lehman Brothers Holdings Inc. priced a $500,000 issue of zero-coupon 100% principal-protected notes due Jan. 30, 2009 linked to a basket of Asian currencies, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights (25%) of the Indonesia rupiah, Indian rupee, Malaysian ringgit and Singapore dollar, all versus the dollar.

The payout at maturity will be par plus any basket gain multiplied by a participation rate of 250%. Investors will receive at least par.

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

Issuer:	Lehman Brothers Holdings Inc.
Issue:	100% principal-protected notes
Underlying currencies:	Equal weights (25%) of the Indonesia rupiah, Indian rupee, Malaysian ringgit and Singapore dollar, all versus the dollar
Amount:	$500,000
Maturity:	Jan. 30, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 250% of any basket gain; floor of par
Initial spot rates:	Indonesia rupiah at 9,138, Indian rupee at 40.24, Malaysian ringgit at 3.439, Singapore dollar at 1.5135
Pricing date:	July 26
Settlement date:	July 31
Underwriters:	UBS Financial Services Inc., Lehman Brothers Inc.
Fees:	0.5%

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