New Issue: Freddie Mac prices $100 million 15-year redeemable variable-rate notes

By Jennifer Chiou

New York, Feb. 18 - Freddie Mac priced $100 million of variable-rate notes due Feb. 17, 2026, according to an agency term sheet.

Interest will accrue at 6% per year for each day six-month Libor is less than or equal to 6.5%, but greater than 0%.

The bonds will be redeemable on a quarterly basis beginning on May 17, 2011.

Morgan Stanley is the manager.

Issuer:	Freddie Mac
Issue:	Variable-rate medium-term notes
Amount:	$100 million
Maturity:	Feb. 17, 2026
Coupon:	6% per year for each day six-month Libor is less than or equal to 6.5%, but greater than 0%
Price:	Par
Call:	Quarterly beginning on May 17, 2011 at par plus accrued interest
Settlement date:	Feb. 17
Manager:	Morgan Stanley
Fees:	0.58%
Cusip:	3134G12H6

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