Rule 424(b)(2)
Registration Nos. 333-38227
NASD File No. 961029005
Cusip #: 52517PMR9
PRICING SUPPLEMENT NO. 294
Trade Date: February 3, 1998 to Prospectus
Supplement dated December 17, 1997
and Prospectus dated December 3, 1997
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: 1 Month Libor
Agent's Commission: .15% Telerate pg 3750
posted on 2/3/98
Interest Rate Basis:
( ) Treasury Rate Original Issue Date: 2/5/98
( X) LIBOR - 1 month Initial Maturity Date: 3/5/99 *
Final Maturity Date: 2/5/01 *
( ) Commercial Paper Rate Maximum Interest Rate:______%
( ) Federal Funds Effective Rate Minimum Interest Rate:______%
( ) Prime Rate Spread Multiplier:__________%
( ) Other Spread (+ -) +.15% **(See below)
Index Maturity: Monthly
Interest Payment Period: Monthly
Interest Reset Period: Monthly
Interest Reset Dates: 5th of each month
Interest Determination Dates: Two (2) London business days prior
to interest payment dates
Interest Payment Dates: Monthly on the 5th, commencing on March 5th,
1998, subject to modified following business day convention.
The aggregate principal amount of this offering is $100,000,000 and
relates only to Pricing Supplement No. 294. Medium-Term Notes, Series
E may be issued by the company in aggregate principal amount of up to
$12,478,325,000 and, to date, including this offering, an aggregate of
$11,917,913,688 Medium-Term Notes, Series E has been issued and
$7,853,678,688 are outstanding.
* The Floating Rate Renewable Notes described in this Pricing
Supplement (the "Renewable Notes") will mature on the Initial Maturity
Date, unless the maturity of all or any portion of the principal
amount thereof is extended in accordance with the procedures described
below. On any Election Date (as defined herein), the holder of a
Renewable Note may elect to extend the maturity of the Renewable Notes
to the date (the "Stated Maturity Date") occurring 366 calendar days
from and including the next Interest Reset Date; if such Note is
extended and such 366th calendar day is not a Business Day, the
maturity of any Renewable Note so extended shall be the next
succeeding Business Day. The holder may extend the maturity of the
Renewable Notes or any portion thereof having a principal amount of
$1,000 or any multiple of $1,000 in excess thereof by delivering a
notice to such effect, via the Depository Trust Company, to the
trustee for the Renewable Notes on any Business Day during the period
beginning on the fourth Business Day preceding an Election Date to and
including such Election Date. Such option may be exercised with
respect to less than the principal amount of the Renewable Notes;
provided that the principal amount for which such option is exercised
is at least $1,000 or any larger amount that is an integral multiple
of $1,000. Notwithstanding the foregoing, the maturity of the
Renewable Notes may not be extended beyond February 5, 2001. If the
holder does not affirmatively elect to extend the maturity of any
portion of the principal amount of the Renewable Notes on any Business
Day during the period beginning on the fourth Business Day preceding
an Election Date to and including any Election Date according to the
procedures described herein, such portion shall become due and payable
12 calendar months from and including the Interest Reset Date in the
month following the month in which the holder fails to make such
election; provided, however, that if such maturity date is not a
Business Day, such portion will become due and payable on the next
Succeeding Business Day. An Election Date shall be the twentieth day
of each month from February 1998 to January 2000 inclusive. If the
twentieth day of the month is not a Business Day then the Election
Date shall be the next Succeeding Business Day.
The Renewable Notes will bear interest from the date of issuance
until the principal amount thereof is paid or made available for
payment at a rate determined by reference to LIBOR plus the Spread.
Until the Initial Interest Reset Date, the Renewable Notes will bear
interest at the Initial Interest Rate.
** If the holder of a Renewable Note elects to extend the
maturity of such renewable Note or any specified portion thereof, the
Spread applicable to such Renewable Note or specified portion thereof
shall be .15% per annum beginning on the Interest Reset Date next
succeeding the applicable Election Date. If the holder of a Renewable
Note elects not to extend the maturity of such Renewable Note, or any
specified portion thereof, the Spread applicable to such Renewable
note or specified portion thereof shall be 0.05% per annum beginning
on the second Interest Reset Date next succeeding the applicable
Election Date until the Stated Maturity Date of such Renewable Note or
specified portion thereof.
