New Issue: Lehman prices $57.6 million notes linked to Whole Foods Market at 1.25%, up 19.85%

New York, March 17 - Lehman Brothers Holdings Inc. priced $57.6 million of 1.25% seven-year notes performance linked to Whole Foods Market, Inc. common stock with a 19.85% initial exchange premium, according to a 424B5 filing with the Securities and Exchange Commission.

The notes have a cash or stock payout at maturity linked to Whole Foods Market and can be converted at any time for stock at the holder's option.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Performance-linked medium-term senior notes
Underlying stock:	Whole Foods Market, Inc.
Amount:	$57.6 million
Greenshoe:	$8.64 million
Maturity:	March 22, 2012
Coupon:	1.25%
Price:	Par
Yield:	1.25%
Exchange premium:	19.85%
Exchange price:	$121.180335
Payout at maturity:	Greater of par in cash or percentage appreciation above exchange price (19.85% above $101.11 price Lehman paid to hedge notes), in cash or stock at Lehman's option
Call:	March 15, 2008 onwards with same payout calculation as at maturity
Dividend protection:	Conversion ratio adjustment
Pricing date:	March 15
Settlement date:	March 22
Underwriter:	Lehman Brothers
Distribution:	Off shelf

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