Rule 424(b)(2)
Registration Nos. 333-14791
NASD File No. 961029005
Cusip No: 52517PKQ3
PRICING SUPPLEMENT NO. 246
Dated June 3, 1997, to Prospectus
Supplement dated February 5, 1997
and Prospectus dated October 31, 1996
LEHMAN BROTHERS HOLDINGS INC.
Medium-Term Notes, Series E
(Floating Rate)
Due from Nine Months to 30 years from Date of Issue
Price to Public: 100% Initial Interest Rate: 3 month Libor
Commission: .35% Telerate pg 3750
posted on 6/4/97
Interest Rate Basis:
( ) Treasury Rate Original Issue Date: 6/6/97
(x) LIBOR - 3 month Maturity Date: 6/6/00
( ) Commercial Paper Rate Maximum Interest Rate:______%
( ) Federal Funds Effective Rate Minimum Interest Rate:______%
( ) Prime Rate Spread Multiplier:__________%
( ) Other Spread (+ -) +.29%
Index Maturity: Quarterly
Interest Payment Period: Quarterly
Interest Reset Period: Quarterly
Interest Reset Dates: Same as coupon payment dates.
Interest Determination Dates: Two NY/London business days prior to
interest reset dates.
Interest Payment Dates: The 6th of March, June September and
December.
The aggregate principal amount of this offering is $50,000,000 and
relates only to Pricing Supplement No. 246. Medium-Term Notes, Series
E may be issued by the company in aggregate principal amount of up to
$9,517,500,000 and, to date, including this offering, an aggregate of
$8,280,325,000 Medium-Term Notes, Series E has been issued and
$4,748,890,000 are outstanding.
