Lehman plans return optimization notes linked to PowerShares WilderHill Clean Energy via UBS

By Jennifer Chiou

New York, May 29 - Lehman Brothers Holdings Inc. plans to price 0% return optimization securities with partial protection due Dec. 18, 2009 linked to the PowerShares WilderHill Clean Energy Portfolio, according to an FWP filing with the Securities and Exchange Commission.

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

The payout at maturity will be par of $10 plus double any gain on the fund, subject to a maximum return of 30% to 33%. The exact cap will be determined at pricing. Investors will receive par for losses up to 10% and will share in losses beyond 10%.

The notes will price on June 13 and settle on June 18.

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