Freddie Mac announces results of tender offer for eight STACR notes

Chicago, June 14 – Freddie Mac announced the results of its tender offer for eight series of its Structured Agency Credit Risk notes, according to a press release.

As of 5 p.m. ET on June 13, around $2,489,000,000 of the original principal amount of the notes had been tendered and not withdrawn.

Freddie Mac received tenders and is accepting the following principal amount of notes, with some of the original principal amounts updated since the original press release to reflect reported exchange activity of MAC notes or exchangeable notes into eligible notes during the tender offer period:

• $444,674,036 tendered, or 98.39%, of the $451,954,036 original principal amount up from $284,955,036 original principal amount of STACR Trust 2018-DNA2’s STACR 2018-DNA2 M-2 notes (Cusip: 35563TAB7) for a tender offer consideration of $1,013.44 per $1,000 note;

• $363,829,257 tendered, or 87.27%, of the $416,906,000 original principal amount up from $343.85 million original principal amount of STACR Trust 2018-HQA2’s STACR 2018-HQA2 M-2 notes (Cusip: 35563XAH5) for a tender offer consideration of $1,004.38 per $1,000 note;

• $345,875,493 tendered, or 97.54%, of the $354,614,034 original principal amount up from the $231,133,034 original principal amount of STACR Trust 2018-DNA3’s STACR 2018-DNA3 M-2 notes (Cusip: 35563WAH7) for a tender offer consideration of $1,007.66 per $1,000 note;

• $326,895,000 tendered, or 99.97%, of the $327 million original principal amount of STACR Trust 2019-DNA1’s STACR 2019-DNA1 M-2 notes (Cusip: 35563KAH3) for a tender offer consideration of $1,017.81 per $1,000 note;

• $303,035,000 tendered, or 99.36%, of the $305 million original principal amount of STACR Trust 2019-HQA1’s STACR 2019-HQA1 M-2 notes (Cusip: 35563MAH9) for a tender offer consideration of $1,010.47 per $1,000 note;

• $317,066,000 tendered, or 90.08%, of the $352 million original principal amount of STACR Trust 2019-DNA2’s STACR 2019-DNA2 M-2 notes (Cusip: 35564LAH0) for a tender offer consideration of $1,012.50 per $1,000 note;

• $275,415,000 tendered, or 98.36%, of the $280 million original principal amount of STACR Trust 2019-HQA2’s STACR 2019-HQA2 M-2 notes (Cusip: 35564MAH8) for a tender offer consideration of $1,004.06 per $1,000 note; and

• $112 million tendered, or all, of the $112 million original principal amount of STACR Trust 2019-HRP1’s STACR 2019-HRP1 M-2 notes (Cusip: 35564RAK0) for a tender offer consideration of $1,000.63 per $1,000 note.

Interest will also be paid to the settlement date.

Each series of notes was issued by the STACR trust identified above. Freddie Mac holds the owner certificate issued by each trust.

There were guaranteed delivery procedures for the offer.

Settlement is planned for June 15.

Purchase of notes tendered via guaranteed delivery is expected for June 16.

BofA Securities, Inc. (980 387-3907, 888 292-0070) and Citigroup Global Markets Inc. (212 733-6106, 800 558-3745) are the lead dealer managers.

CastleOak Securities LP is the co-dealer manager.

Global Bondholder Services Corp. is the information agent (212 430-3774, 855 654-2015, https://www.gbsc-usa.com/FreddieMac)

More information is available on Freddie Mac’s site (https://crt.freddiemac.com/securities).

The government-sponsored enterprise that provides mortgage capital to lenders is based in McLean, Va.

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