Filed Pursuant to Rule 433
Registration No: 333-134553
Lehman Brothers Holdings Inc.
7.00% Notes due September 27, 2027
Issuer: |
| Lehman Brothers Holdings Inc. |
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Ratings: |
| A1 (Moody’s)/A+ (S&P)/AA– (Fitch) |
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Principal Amount: |
| $1,000,000,000 |
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Security Type: |
| Senior Medium Term Notes |
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Legal Format: |
| SEC Registered |
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Settlement Date: |
| September 26, 2007 (T+5) |
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Maturity Date: |
| September 27, 2027 |
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Issue Price: |
| 99.808% |
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Coupon: |
| 7.00% |
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Benchmark Treasury: |
| 4.75% due February 15, 2037 |
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Spread to Benchmark Treasury: |
| Plus 220 basis points (2.20%) |
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All-in Yield: |
| 7.018% |
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Interest Payment Dates: |
| Semi-annually on March 27 and September 27, commencing on March 27, 2008 |
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Denominations: |
| $1,000 |
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CUSIP/ISIN: |
| 52517P5Y3/ US52517P5Y38 |
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Underwriters: |
| Lehman Brothers (86%) (bookrunner) |
The issuer has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (SEC) for this offering. Before you invest, you should read the prospectus for this offering in that registration statement, and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by searching the SEC online database (EDGAR®) at www.sec.gov. Alternatively, you may obtain a copy of the prospectus from Lehman Brothers Inc. by calling 1-888-603-5847.