FWP 1 a06-24932_32fwp.htm FILING UNDER SECURITIES ACT RULES 163/433 OF FREE WRITING PROSPECTUSES

Filed Pursuant to Rule 433
Registration No. 333-134553

Final Term Sheet

Lehman Brothers Holdings Inc.
Japanese Yen Linked Warrants

 

Issuer:

 

Lehman Brothers Holdings Inc.

 

 

 

Ratings:

 

A1/A+/A+

 

 

 

Pricing Date:

 

December 20, 2006

 

 

 

Settlement Date:

 

December 28, 2006

 

 

 

Security Type:

 

Japanese Yen Linked Warrants

 

 

 

Legal Format:

 

SEC-registered

 

 

 

Expiration Date:

 

June 20, 2008

 

 

 

Issue Price:

 

$6.31 per Warrant

 

 

 

Number of Warrants:

 

5,450,000 Warrants

 

 

 

Denominations:

 

100/100

 

 

 

Exercise Date:

 

Any New York business day from and including December 28, 2006 to but excluding 3:00 p.m. (New York time) on June 19, 2008.

 

 

 

Issue Amount:

 

$34,389,500

 

 

 

Notional Amount:

 

$90.00 per Warrant

 

 

 

Initial Exchange Rate:

 

118.10 Japanese Yen per U.S. Dollar

 

 

 

Listing:

 

American Stock Exchange (“BYW.WS”)

 

 

 

Joint Managers:

 

Lehman Brothers, Oppenheimer & Co.

 

 

 

CUSIP:  

 

52520W127

 

 

 

ISIN:

 

US52520W1273

 

 

 

Common Code:

 

027890059

 

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 by calling toll-free at 1-888-603-5847 or from Oppenheimer & Co. by calling toll-free at 1-800-221-5588, Attention: Syndicate.