Lehman to price $23.9 million 2% notes linked to Microsoft

By Jennifer Chiou

New York, July 25 - Lehman Brothers Holdings Inc. plans to price $23.9 million of 2% notes due Aug. 1, 2013 performance linked to Microsoft Corp. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Payout at maturity will be par plus any percentage increase over a threshold price, which will be 115% of the price Lehman pays to hedge the notes. The payout will have a floor of par and will be payable in cash or stock at Lehman's option.

The offering will also have a greenshoe of $3.585 million.

Lehman Brothers will be the underwriter.

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