By Kenneth Lim
Boston, May 19 - Fannie Mae priced $3.5 billion of new 1.5% three-year Benchmark Notes on Wednesday with a spread of 27 basis points over Treasuries.
The notes sold at 99.982 to yield 1.506%. Price talk was initially at a spread of 25 bps but was widened to 27 bps late Tuesday.
Barclays Capital Inc., Deutsche Bank Securities Inc. and J.P. Morgan & Co. are the lead managers.
The notes are non-callable.
| Issuer: | Fannie Mae
|
| Issue: | Benchmark Notes
|
| Amount: | $3.5 billion
|
| Maturity: | June 26, 2013
|
| Coupon: | 1.5%
|
| Price: | 99.982
|
| Yield: | 1.506%
|
| Spread: | 27 bps over Treasuries
|
| Price talk: | 27 bps over Treasuries
|
| Call: | Non-callable
|
| Lead managers: | Barclays Capital Inc., Deutsche Bank Securities Inc. and J.P. Morgan & Co.
|
| Pricing date: | May 19
|
| Settlement date: | May 21
|
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