Lehman to issue bonus notes linked to metals basket

By E. Janene Geiss

Philadelphia, May 16 - Lehman Brothers Holdings Inc. plans to price five-year zero-coupon 100% principal-protected bonus notes linked to a basket of metals, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of equal weights of copper - grade A, primary nickel and high-grade primary aluminum.

If the basket gains more than 60%, the payout at maturity will be par plus the basket return.

If the return is greater than 0% and equal to or less than a gain of 60%, the payout will be par plus 60%.

Investors will receive at least par.

Lehman Brothers Inc. is the underwriter.

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