Rule 424(b)(2)
Registration Nos. 333-14791
NASD File No. 961029005
Cusip #: 52517PLF6
PRICING SUPPLEMENT NO. 261
Dated August 26, 1997 to Prospectus
Supplement dated August 11, 1997
and Prospectus dated August 11, 1997
LEHMAN BROTHERS HOLDINGS INC.
Medium-Term Notes, Series E
(Fixed Rate)
Due from Nine Months to 30 Years from Date of Issue
Pricing to Public: 100%
Agent's Commission: .50%
Original Issue Date: 09/10/97
Interest Rate Per Annum: 7.25%
Interest Payment Dates: Monthly on the 10th, commencing on 10/10/97
Maturity Date: 9/10/12
Call Feature: The Issuer has the right to call these notes at Par on
9/10/02 only. Call notice is 15 days.
These Notes, issued under Pricing Supplement No. 261, may be sold in
minimum denominations of $1,000, or any amount in excess thereof
which is an integral multiple of $1,000.
The aggregate principal amount of this offering is $10,000,000 and
relates only to Pricing Supplement No. 261. Medium-Term Notes,
Series E may be issued by the Company in an aggregate principal
amount of up to $10,267,500,000 and, to date, including this
offering, an aggregate of $9,267,325,000 Medium-Term Notes, Series E
has been issued and $5,525,890,000 are outstanding.
The Agent has purchased the Notes as principal in this transaction
and may resell any of such Notes to another broker/dealer (acting as
principal for the purposes of resale) at a discount, which may vary
from the discount received by the Agent in such transaction.
