Rule 424(b)(2)
Registration Nos. 333-14791
NASD File No. 961029005
PRICING SUPPLEMENT NO. 240
Dated April 3, 1997 to Prospectus
Supplement dated February 5, 1997
and Prospectus dated October 31, 1996
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: .25%
Original Issue Date: 4/17/97
Interest Rate Per Annum: 7.75%
Interest Payment Dates: 17th of each month and at maturity
Maturity Date: 4/17/12 (1)
1) Call Feature: The Company has the right to call the Notes at par
on or after 4/17/00 on any interest payment date. Call notice is
ten calendar days.
These Notes, issued under Pricing Supplement No. 240, 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 $5,000,000 and
relates only to Pricing Supplement No. 240. Medium-Term Notes,
Series E may be issued by the Company in an aggregate principal
amount of up to $9,517,500,000 and, to date, including this
offering, an aggregate of $8,122,825,000 Medium-Term Notes, Series E
has been issued and $4,566,890 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.
