Published on 5/13/2016 in the Prospect News Agency DailyProspect News Structured Products Daily.
New Issue: Freddie Mac prices $25 million 15-year non-call 0.25-year step up notes at 2.375% initial rate
New York, May 13 - Freddie Mac priced $25 million of 2.375% initial rate 15-year non-call 0.25-year step up medium-term notes at par, according to the agency's web site.
The bonds will mature on May 23, 2031 and have a Bermuda call beginning Aug. 23.
First Tennessee Bank NA Memphis and Finacorp Securities are the managers.
Issuer: | Freddie Mac
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Issue: | Step up medium-term notes
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Amount: | $25 million
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Maturity: | May 23, 2031
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Coupon: | 2.375% from May 23, 2.625% from May 23, 2021, 2.75% from May 23, 2023, 3.00% from May 23, 2025, 3.25% from May 23, 2028, 3.50% from Nov. 23, 2028, 4.00% from May 23, 2029, 5.00% from Nov. 23, 2029, 6.50% from May 23, 2030, 8.00% from Nov. 23, 2030
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Price: | Par
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Call: | Bermuda call beginning Aug. 23
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Pricing date: | May 12
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Settlement date: | May 23
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Underwriters: | First Tennessee Bank NA Memphis and Finacorp Securities
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Cusip: | 3134G9LJ4
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