New Issue: Lehman prices $4 million 7.5% Yeelds linked to Calpine stock

New York, March 2 - Lehman Brothers Holdings Inc. priced $4 million of 11/2-year 7.5% Yeelds (Yield Enhanced Equity-Linked Debt Securities) whose performance is linked to the common stock of Calpine 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:	Calpine Corp.
Amount:	$4 million
Greenshoe:	$600,000
Maturity:	Sept. 3, 2005
Coupon:	7.5%, payable quarterly
Price:	Par
Payout at maturity:	Par multiplied by final value of Calpine stock divided by $5.4675, capped at 145% of par, in cash or stock at Lehman's option
Pricing date:	Feb. 27
Settlement date:	March 3
Listing:	"YLO.C" on American Stock Exchange
Underwriter:	Lehman Brothers

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