New Issue: Lehman prices $4 million 3.52% Yeelds linked to Microsoft stock

New York, March 18 - Lehman Brothers Holdings Inc. priced $4 million of 11/2-year 3.52% Yeelds (Yield Enhanced Equity-Linked Debt Securities) whose performance is linked to the common stock of Microsoft Corp., according to a 424B5 filing with the Securities and Exchange Commission.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Yeelds (Yield Enhanced Equity-Linked Debt Securities) senior notes
Underlying stock:	Microsoft Corp.
Amount:	$4 million
Greenshoe:	$600,000
Maturity:	Sept. 24, 2005
Coupon:	3.52%, payable quarterly
Price:	Par of $25.40
Payout at maturity:	Final value of Microsoft stock, capped at 117.50% of par or $29.845, payable in cash or stock at Lehman's option
Pricing date:	March 17
Settlement date:	March 24
Underwriter:	Lehman Brothers

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