New Issue: Lehman prices $189.63 million 10% Yeelds linked to Analog Devices

By Angela McDaniels

Seattle, Aug. 30 - Lehman Brothers Holdings Inc. priced $189.63 million of 10% notes due March 5, 2007 structured as Yield Enhanced Equity Linked Debt Securities (Yeelds) linked to Analog Devices, Inc. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Payout at maturity will be the final value of Analog Devices stock during the averaging period, which will be the last eight trading days ending Feb. 26, 2007. The payout will be capped at $32.54286, 110.69% of the initial value, and will be payable in stock or cash.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Yeelds (Yield Enhanced Equity-Linked Debt Securities) medium-term senior series I notes
Underlying stock:	Analog Devices, Inc.
Amount:	$189.63 million
Greenshoe:	$28,444,500
Maturity:	March 5, 2007
Coupon:	10%, payable quarterly
Price:	Par of $29.40
Payout at maturity:	Final value of Analog Devices stock during the averaging period, the last eight trading days, capped at $32.54286 and payable in stock or cash
Cap price:	$32.54286, 110.69% of initial value
Pricing date:	Aug. 28
Settlement date:	Sept. 5
Underwriter:	Lehman Brothers Inc.

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