Rule 424(b)(2)
Registration No. 333-75723
PRICING SUPPLEMENT NO. 32 dated July 31, 2000
to Prospectus Supplement dated April 30, 1999
and Prospectus dated April 30, 1999.
LEHMAN BROTHERS HOLDINGS INC.
Medium-Term Notes, Series F
Due Nine Months or More From the Date of Issue
(Floating Rate)
Cusip No.: 52517PRG8
Principal Amount: $150,000,000
Price to Public: 100.00%
Agent's Commission: 0.350%
Original Issue Date: 08/03/00
Initial Interest
Rate Per Annum: 3 Month LIBOR, Telerate p. 3750, posted on
08/01/00
Spread: +.40%
Index Maturity: Quarterly
Interest Payment Period: Quarterly
Interest Reset Period: Quarterly
Interest Reset Dates: Same as Interest Payment Dates
Interest Payment Dates: Quarterly on the 1st, commencing on 11/01/00,
subject to modified business day
convention.
Interest Determination Two London business days prior to each
Dates: Interest Reset Date.
Maturity Date: 08/01/03
Authorized Denomination: $1,000 or any larger whole multiple.
Lehman Brothers Holdings Inc.
By:/s/John_Buckley
Name: John Buckley
Title: Assistant Vice President
