Rule 424(b)(2)
Registration Nos. 333-14791
NASD File No. 961029005
PRICING SUPPLEMENT NO. 242
Dated April 4 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: Fed Funds Effective
Commission: .35% Telerate pg 120
posted on 4/09/97
Interest Rate Basis:
( ) Treasury Rate Original Issue Date: 4/10/97
( ) LIBOR - 3 month Maturity Date: 4/10/00
( ) Commercial Paper Rate Maximum Interest Rate:______%
( X) Federal Funds Effective Rate Minimum Interest Rate:______%
( ) Prime Rate Spread Multiplier:__________%
( ) Other Spread (+ -) +.28%
Index Maturity: Daily
Interest Payment Period: Quarterly
Interest Reset Period: Daily
Interest Reset Dates: Daily-Rate will freeze two business days prior
to coupon payment dates.
Interest Determination Dates: One (1) NY business days prior
to interest reset dates
Interest Payment Dates: 1/10, 4/10, 7/10, and 10/10 and at maturity
The aggregate principal amount of this offering is $50,000,000 and
relates only to Pricing Supplement No. 242. 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
$8,182,825,000 Medium-Term Notes, Series E has been issued and
$4,582,390,000 are outstanding.
