New Issue: Lehman prices $3 million return-enhanced notes linked to 10 commodities

By E. Janene Geiss

Philadelphia, June 18 - Lehman Brothers Holdings Inc. priced $3million of 100% principal-protected 0% return-enhanced notes due June 24, 2011 linked to a commodities basket, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of equal weights (10%) of light sweet crude oil, Henry Hub natural gas, No. 2 fuel heating oil, RBOB gasoline, gold, copper - grade A, primary nickel, No. 2 yellow soybeans, No. 2 yellow corn and coffee Robusta.

The payout at maturity will be par plus 105% of any basket gain. Investors will receive at least par.

Lehman Brothers Inc. is the underwriter.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Return-enhanced notes
Underlying assets:	Equal weights of light sweet crude oil, Henry Hub natural gas, No. 2 fuel heating oil, RBOB gasoline, gold, copper - grade A, primary nickel, No. 2 yellow soybeans, No. 2 yellow corn and coffee Robusta
Amount:	$3 million
Maturity:	June 24, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 105% of any basket gain; floor of par
Initial prices:	$134.01 for crude oil, $12.952 for natural gas, $3.8222 for heating oil, $3.4179 for RBOB gasoline, $881.50 for gold, $8,181.00 for gold, $23,500.00 for nickel, $15.58 for soybeans, $7.4225 for corn and $2,286.00 for coffee
Pricing date:	June 17
Settlement date:	June 24
Underwriter:	Lehman Brothers Inc.
Fees:	5%

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