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Published on 3/31/2010 in the Prospect News Agency Daily.

New Issue: FHLB prices $500 million 1.5-year callable step up notes at 0.5% initial rate

New York, March 31 - Federal Home Loan Banks priced $500 million of 0.5% initial rate 1.5-year callable step up notes at par, according to the agency's web site.

The bonds will mature on Oct. 26, 2011 and have a Bermuda call.

Credit Suisse, Citigroup Global Markets and Deutsche Bank are the managers.

Issuer:Federal Home Loan Banks
Issue:Step up notes
Amount:$500 million
Maturity:Oct. 26, 2011
Coupon:0.5% initial rate
Price:Par
Call:Bermuda call
Pricing date:March 31
Settlement date:April 26
Underwriters:Credit Suisse, Citigroup Global Markets and Deutsche Bank

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