424B2 1 a2134732z424b2.htm 424B2

Filed Pursuant to Rule 424(b)(2)
Registration No. 333-60474

Pricing Supplement No. 52 dated April 22, 2004
(to Prospectus Supplement dated December 23, 2002
and Prospectus dated June 14, 2001)

LEHMAN BROTHERS HOLDINGS INC.

Lehman Notes, Series A
Due Nine Months or More from the Date of Issue

Trade Date:   April 22, 2004    
Issue Date:   April 27, 2004    
CUSIP Number
   Aggregate
Principal
Amount
   Price to
Public
  
Gross
Agents'
Concession
   Named
Agents'
Concession
   Dealers'
Selling
Concession
   Net Proceeds to
Issuer
   Interest Rate
per Annum
52519FCS8   $ 1,720,000   100.00%   1.80%   1.60%   1.20%   $ 1,689,040   5.00%
CUSIP
Number
   Interest Payment Dates
   First Interest Payment Date
   Maturity Date
  
Survivor's
Option
(Yes/No)
   Right of Issuer to Redeem Notes or of Holder to Require Repayment of Notes

52519FCS8
 
Monthly on the 27th, and
on the Maturity Date
 
May 27, 2004
 
April 27, 2014
 
Yes
 
The Note may be redeemed prior to the Maturity Date at the option of Lehman Brothers Holdings, in whole or in part, at a price equal to 100% of the principal amount being redeemed, monthly on the 27th, commencing April 27, 2007. Notice of redemption will be given not more than 60 nor less than 30 days prior to the redemption date.

 
 
 
 
 
 
 
 
 
 
The holder of the Note may not elect repayment of the Note by Lehman Brothers Holdings prior to the Maturity Date except pursuant to the Survivor's Option, if applicable.

Other Terms:    None

Capitalized terms used herein without definition have the meanings ascribed to them in the Prospectus Supplement and Prospectus.

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