By Kenneth Lim
Boston, Jan. 14 - Fannie Mae priced $4.5 billion of 1.75% three-year Benchmark Notes on Thursday at an initial spread of 29.5 basis points over Treasuries.
Price talk was at a spread of 31 bps, but that was narrowed to 29.5 bps to 30 bps late Wednesday.
The notes were sold at 99.856 to yield 1.798%.
Banc of America Securities, Goldman Sachs & Co. and J.P. Morgan & Co. were the lead managers.
The notes are non-callable.
| Issuer: | Fannie Mae
|
| Issue: | Benchmark Notes
|
| Amount: | $4.5 billion
|
| Maturity: | Feb. 22, 2013
|
| Coupon: | 1.75%
|
| Price: | 99.856
|
| Yield: | 1.798%
|
| Initial spread: | 29.5 bps over Treasuries
|
| Price talk: | 31 bps over Treasuries
|
| Call protection: | Non-callable
|
| Lead managers: | Banc of America Securities, Goldman Sachs & Co., J.P. Morgan & Co.
|
| Pricing date: | Jan. 14
|
| Settlement date: | Jan. 15
|
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