Lehman plans enhanced participation notes linked to four commodities

By E. Janene Geiss

Philadelphia, May 23 - Lehman Brothers Holdings Inc. plans to price principal-protected 0% enhanced participation notes due July 2, 2012 linked to a commodities basket, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of equal weights (25%) of natural gas, heating oil, copper - grade A and primary nickel.

The payout at maturity will be par plus at least 160% of any basket gain. The exact participation rate will be set at pricing. Investors will receive at least par.

The notes are expected to price June 24 and settle July 1.

Lehman Brothers Inc. is the underwriter.

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