Lehman plans issue of 20% Yeelds linked to United Technologies

By Angela McDaniels

Seattle, Aug. 8 - Lehman Brothers Holdings Inc. plans to price an issue of 20% notes structured as Yield Enhanced Equity-Linked Debt Securities (Yeelds) due Aug. 15, 2007 linked to the common stock of United Technologies Corp., according to a 424B5 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The settlement date is expected to be Aug. 14.

At maturity, investors will receive 84.3953% of the final value of United Technologies stock on Aug. 8, 2007, the valuation date. The payout will be capped at par and will be payable in stock or cash at Lehman's option.

Lehman Brothers Inc. will be underwriter and will be granted a greenshoe.

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