Rule 424(b)(2)
Registration No. 333-75723
PRICING SUPPLEMENT NO. 20 dated February 7, 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
(Fixed Rate)
Cusip No.: 52517PQT1
Principal Amount: $25,000,000
Price to Public: 100.00%
Agent's Commission: 0.350%
Original Issue Date: 02/28/00
Interest Rate Per Annum: 8.00%
Interest Payment Dates: 08/28 and 02/28, commencing 08/28/00
Maturity Date: 02/28/10
Authorized Denomination: $1,000 or any larger whole multiple.
Call Option: The Issuer has the right to call the issue
every two years at par on or after the
first call date. Call notice is 30
calendar days.
First Call Date: 02/28/03
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.
Lehman Brothers Holdings Inc.
By: /s/ Kathryn Bopp Flynn
Name: Kathryn Bopp Flynn
Title: Assistant Vice President
