New Issue: Lehman prices $1.5 million issue of 13.76% Rangers linked to Fording Canadian Coal Trust

By Jennifer Chiou

New York, Sept. 12 - Lehman Brothers Holdings Inc. priced a $1.5 million issue of 13.76% Risk Adjusting Equity Range Securities (Rangers) due Sept. 15, 2007 linked to Fording Canadian Coal Trust units, according to a 424B5 filing with the Securities and Exchange Commission.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Rangers (Risk Adjusting Equity Range Securities) medium-term senior series H notes
Underlying security:	Fording Canadian Coal Trust units
Amount:	$1.5 million
Greenshoe:	$0.225 million
Maturity:	Sept. 15, 2007
Coupon:	13.76%
Price:	Par
Payout at maturity:	Par unless stock falls below threshold price of $18.725, 70% of the initial price, in which case investors will be fully exposed to any decline; investors will not receive more than par
Initial price:	$26.75
Threshold price:	$18.725, 70% of the initial price
Pricing date:	Sept. 11
Settlement date:	Sept. 15
Underwriter:	Lehman Brothers Inc.

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