New Issue: Lehman prices $0.5 million 25% reverse convertibles linked to Suntech Power

New York, July 23 - Lehman Brothers Holdings Inc. priced $0.5 million of 25% reverse convertible notes due Jan. 25, 2009 linked to Suntech Power Holdings Co., Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Suntech Power shares fall below the protection price of $19.272, 55% of the initial price of $35.04, during the life of the notes and finish below the initial price in which case the payout will be Suntech Power shares equal to $1,000 principal amount divided by the initial price.

Lehman Brothers is the agent.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Reverse convertible notes
Underlying stock:	Suntech Power Holdings Co., Ltd. (Symbol: STP )
Amount:	$0.5 million
Maturity:	Jan. 25, 2009
Coupon:	25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Suntech Power shares fall below the protection price of $19.272, 55% of the initial price, and finish below the initial price, in which case Suntech Power shares equal to $1,000 principal amount divided by the initial price
Initial price:	$35.04
Protection price:	$19.272, 55% of $35.04
Pricing date:	July 22
Settlement date:	July 25
Agent:	Lehman Brothers
Fees:	1.5%

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