New Issue: Fannie Mae prices $9 billion five-year Benchmark Notes at 90 bps

By Jennifer Chiou

New York, March 12 - Fannie Mae announced the issue of $9 billion of new 2.75% five-year Benchmark Notes that priced a 99.625 to yield 2.831%, or 90 basis points over Treasuries.

The deal came slightly tighter than talk which sources previously said had the notes pricing at the 91 bps area over Treasuries.

Lead managers for the issue were Banc of America Securities LLC, Citigroup Global Markets Inc. and Goldman Sachs & Co.

Co-managers were Barclays Capital Inc., FTN Financial Capital Markets, J.P. Morgan Securities Inc., Loop Capital Markets LLC and Morgan Stanley & Co. Inc.

Issuer:	Fannie Mae
Issue:	Benchmark Notes
Amount:	$9 billion
Maturity:	March 13, 2014
Lead managers:	Banc of America Securities LLC, Citigroup Global Markets Inc., and Goldman Sachs & Co.
Co-managers:	Barclays Capital Inc., FTN Financial Capital Markets, J.P. Morgan Securities Inc., Loop Capital Markets LLC and Morgan Stanley & Co. Inc.
Coupon:	2.75%
Price:	99.625
Yield:	2.831%
Spread:	90 basis points over the 1.875% Treasury due Feb. 28, 2014
Pricing date:	March 12
Settlement date:	March 13
Price talk:	91 bps area over Treasuries

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