New Issue: Lehman prices $10.72 million notes linked to Amgen at 0.25%, up 10.75%

By Jennifer Chiou

New York, Jan. 3 - Lehman Brothers Holdings Inc. priced $10.72 million 0.25% notes performance linked to Amgen Inc. stock with a 10.75% initial exchange premium, according to a 424B5 filing with the Securities and Exchange Commission.

The notes can be exchanged for Amgen stock at a price of $87.6254 per share and automatically exchange at maturity or redemption if the stock is more valuable than par in cash.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Performance-linked medium-term senior series H notes
Underlying stock:	Amgen Inc.
Amount:	$10.72 million
Greenshoe:	$1.608 million
Maturity:	Jan. 6, 2012
Coupon:	0.25%
Price:	Par
Exchange premium:	10.75% (over $79.12 that Lehman paid to hedge the notes)
Exchange price:	$87.6254 (automatic exchange at maturity if more valuable)
Call:	Dec. 29, 2008 (automatic exchange if more valuable)
Pricing date:	Dec. 29
Settlement date:	Jan. 6
Underwriter:	Lehman Brothers

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