Rule 424(b)(2)
Registration Nos. 333-38227
NASD File No. 961029005
Cusip #: 52517PLX7
PRICING SUPPLEMENT NO. 277
Trade Date: December 10, 1997 to Prospectus
Supplement dated December 3, 1997
and Prospectus dated December 3, 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: 99.969%
Agent's Commission: .50%
Original Issue Date: 12/15/97
Interest Rate Per Annum: 6.625%
Interest Payment Dates: Every 2/15 and 8/15 commencing on 2/15/98
Maturity Date: 12/27/02
These Notes, issued under Pricing Supplement No. 277, 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 $300,000,000 and
relates only to Pricing Supplement No. 277. Medium-Term Notes,
Series E may be issued by the Company in an aggregate principal
amount of up to $11,278,325,000 and, to date, including this
offering, an aggregate of $10,153,325,000 Medium-Term Notes, Series
E has been issued and $5,877,090,000 are outstanding.
Lehman Brothers Holdings
By:
Name: Nigel Walker
Title: Assistant Treasurer
