New Issue: Lehman prices $29.19 million 19% YEELDS linked to Siebel

New York, Jan. 29 - Lehman Brothers Holdings Inc. priced $29.19 million of 19% Yield Enhanced Equity Linked Debt Securities (YEELDS) due 2003 linked to Siebel Systems, Inc. common stock on Friday, according to a filing with the Securities and Exchange Commission.

The senior unsecured debt pays a 19% coupon in return for potentially participating in the downside of Siebel stock. At maturity, the notes pay out proportional to the performance of Siebel, capped at $1,209.74 per $1,000 note.

Lehman Brothers was the underwriter.

Lehman said it will use 49% of the proceeds of the offering to acquire Siebel stock.

Issuer:	Lehman Brothers Holdings Inc.
Amount:	$29.19 million
Maturity:	Feb. 1, 2003
Coupon:	19% payable semi-annually beginning Aug. 1, 2002
Denomination:	$1,000
Payment at maturity:	Lesser of $1,209.74 or $1,000 multiplied by value of Seibel stock on Jan. 27, 2003 divided by $36.95
Settlement:	Feb. 1

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