New Issue: Lehman prices $10 million 9.55% Yeelds linked to Bristol-Myers Squibb

By Jennifer Chiou

New York, Aug. 10 - Lehman Brothers Holdings Inc. priced $10 million of 9.55% notes due Feb. 15, 2007 structured as Yield Enhanced Equity-Linked Debt Securities (Yeelds) linked to Bristol-Myers Squibb Co. stock, according to a 424B5 filing with the Securities and Exchange Commission.

At maturity, investors will receive the final value of Bristol-Myers Squibb stock during the averaging period, the last five trading days, capped at $23.375, 110% of the initial value, which will be payable in stock or cash at Lehman's option. During the valuation period, the stock price must be at or above the trigger price of $17.00, 80% of the initial value.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Yeelds (Yield Enhanced Equity-Linked Debt Securities) medium-term senior series H notes
Underlying stock:	Bristol-Myers Squibb Co.
Amount:	$10,000,250
Greenshoe:	$1,500,037.50
Maturity:	Feb. 15, 2007
Coupon:	9.55%, payable quarterly
Price:	Par of $21.25
Payout at maturity:	Final value of Bristol-Myers Squibb stock during the averaging period, the last five trading days, capped at $23.375, payable in stock or cash at Lehman's option provided that stock price stays at or above the trigger price of $17.00, 80% of the initial value
Cap price:	$23.375, 110% of initial value
Pricing date:	Aug. 8
Settlement date:	Aug. 15
Underwriter:	Lehman Brothers Inc.

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