Lehman to price return optimization securities linked to Exxon Mobil via UBS

By Susanna Moon

Chicago, Jan. 29 - Lehman Brothers Holdings Inc. plans to price 0% return optimization securities with partial protection due Aug. 13, 2009 linked to Exxon Mobil Corp. common stock, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus double any stock gain, capped at a return of 29% to 32%. The exact cap will be set at pricing.

If Exxon Mobil stock declines by up to 10%, the payout will be par. Beyond a 10% drop, investors will share in any losses.

The securities are expected to price on Feb. 8 and settle on Feb. 13.

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

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