New Issue: Lehman prices $4.4 million notes linked to Dow Jones - AIG Commodity index

By Jennifer Chiou

New York, Aug. 1 - Lehman Brothers Holdings Inc. priced a $4.4 million issue of zero-coupon 100% principal-protected notes due Aug. 15, 2011 linked to the Dow Jones - AIG Commodity index - Excess Return, according to an FWP filing with the Securities and Exchange Commission.

If the basket appreciates from the initial level, the payout at maturity will be par plus 120% of the basket gain, capped at 70%. Investors will receive at least par.

Lehman Brothers Inc. is the underwriter.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	100% principal-protected notes
Underlying index:	Dow Jones - AIG Commodity index - Excess Return
Amount:	$4.4 million
Maturity:	Aug. 15, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 120% of any index appreciation, capped at 70%; floor of par
Initial index level:	205.103
Pricing date:	July 31
Settlement date:	Aug. 14
Underwriter:	Lehman Brothers Inc.
Fees:	1.65%

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