By Susanna Moon
Chicago, July 11 - Fannie Mae priced $25 million of range accrual notes due July 14, 2023 linked to Libor, according to a term sheet.
The notes will pay an interest rate of 8% per year on each day that the six-month Libor is at least 0% and less than 7.5%. Interest is payable quarterly.
The notes are callable at par on interest payment dates starting Jan. 14, 2009
Payout at maturity will be par plus accrued interest.
Nomura Securities International Inc. is the agent.
| Issuer: | Fannie Mae
|
| Issue: | Range accrual notes
|
| Underlying indexes: | Libor
|
| Amount: | $25 million
|
| Maturity: | July 14, 2023
|
| Coupon: | 8% per year on each day that six-month Libor is at least 0% and less than 7.5%
|
| Price: | Par
|
| Payout at maturity: | Par plus accrued interest
|
| Call: | At par on interest payment dates staring Jan. 14, 2009
|
| Pricing date: | June 23
|
| Settlement date: | July 14
|
| Agent: | Nomura Securities International Inc.
|
| Fees: | 0%
|
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