Lehman plans $150 million 7% Yeelds linked to Alcoa

By Jennifer Chiou

New York, July 14 - Lehman Brothers Holdings Inc. plans to price $150 million of 7% notes structured as Yield Enhanced Equity-Linked Debt Securities (Yeelds) due July 25, 2007 linked to Alcoa Inc. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The pricing date is expected to be July 20.

At maturity, investors will receive the final value of Alcoa stock during the averaging period, the last five trading days, capped at 120% of the initial value, which will be payable in stock or cash at Lehman's option.

Lehman Brothers Inc. will be the underwriter.

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