New Issue: Lehman prices $23.6 million 1.6% notes linked to Bristol-Myers

New York, Oct. 6 - Lehman Brothers Holdings Inc. priced $23.6 million 1.6% notes performance linked to Bristol-Myers Squibb Co. common stock, according to a filing with the Securities and Exchange Commission.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Performance-linked medium-term senior notes
Underlying stock:	Bristol-Myers Squibb Co. common stock
Amount:	$23.6 million
Greenshoe:	$3.54 million
Maturity:	Oct. 9, 2010
Coupon:	1.6%
Price:	Par
Exchange premium:	25%
Exchange price:	$32.6445
Payout at maturity:	Greater of par in cash or percentage appreciation above exchange price (25% above $26.1156 price Lehman paid to hedge notes)
Call:	Oct. 2, 2006 onwards with same payout calculation as at maturity
Dividend protection:	Conversion ratio adjustment
Pricing date:	Oct. 2
Settlement:	Oct. 9
Underwriter:	Lehman Brothers
Distribution:	Off shelf

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