New Issue: Freddie Mac prices $1 billion 1.5-year NC 3-months 1.625% notes

By Angela McDaniels

Tacoma, Wash., Feb. 25 - Freddie Mac priced $1 billion of 1.625% 1.5-year non-call three-months medium-term notes Tuesday, according to the agency's web site.

The bonds have a Bermudan call starting May 27, 2009 and mature on Aug. 27, 2010.

J.P. Morgan Securities Inc. is the lead manager with Jefferies & Co., Goldman Sachs & Co. and Citigroup as co-managers.

Settlement will occur Friday.

Issuer:	Freddie Mac
Issue:	Medium-term notes
Amount:	$1 billion
Maturity:	Aug. 27, 2010
Coupon:	1.625%
Price:	Par
Call option:	Bermudan call starting May 27, 2009
Manager:	J.P. Morgan Securities Inc. (lead), Jefferies & Co., Goldman Sachs & Co., Citigroup (co-managers)
Pricing date:	Feb. 24
Settlement date:	Feb. 27

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