Obligation Freddy Mac 8.25% ( US312925QX12 ) en USD

Freddy Mac

100 % ⇌

Etas-Unis

US312925QX12 ( en USD )

8.25% par an ( paiement semestriel )

27/06/2012 - Obligation échue

Prospectus brochure de l'obligation Freddie Mac US312925QX12 en USD 8.25%, échue

1 000 USD

20 152 000 USD

312925QX1

Freddie Mac est une société publique américaine qui achète et garantit des prêts hypothécaires résidentiels, contribuant ainsi à la stabilité du marché du logement.

Un examen des caractéristiques d'une obligation avec le code ISIN US312925QX12 (CUSIP: 312925QX1), émise par Freddie Mac (Federal Home Loan Mortgage Corporation), une entreprise parrainée par le gouvernement américain, acteur central du financement hypothécaire aux États-Unis, révèle qu'il s'agissait d'un titre de créance libellé en dollars américains (USD), offrant un taux d'intérêt annuel de 8,25%, avec des paiements bimensuels. La taille totale de cette émission s'élevait à 20 152 000 USD, avec une taille minimale d'achat fixée à 1 000 USD; il est important de noter que cette obligation, émise aux États-Unis, est arrivée à maturité le 27 juin 2012 et a été intégralement remboursée à 100% de son prix nominal, confirmant ainsi son statut de titre dont le cycle de vie financier est achevé.

PRICING SUPPLEMENT DATED May 24, 2002
(to Offering Circular Dated May 7, 2002)

$20,152,000

Freddie Mac

Variable Rate Medium-Term Notes Due June 27, 2012
Redeemable periodically, beginning September 27, 2002

Issue Date:
June 27, 2002
Maturity Date:
June 27, 2012
Subject to Redemption:
Yes. The Medium-Term Notes are redeemable at our option, in whole or in part, upon notice
of not less than 5 Business Days, at a price of 100% of the principal amount, plus accrued
interest to the Redemption Date.
Redemption Date(s):
Quarterly, on the 27th day of March, June, September and December, commencing
September 27, 2002
Interest Rate:
See "Description of the Medium-Term Notes" herein
Principal Payment:
At maturity, or upon redemption
CUSIP Number:
312925QX1

You should read this Pricing Supplement together with Freddie Mac's Debentures, Medium-Term Notes and
Discount Notes Offering Circular, dated May 7, 2002 (the "Offering Circular"), and all documents that are incorporated by
reference in the Offering Circular, which contain important detailed information about the Medium-Term Notes and Freddie
Mac. See "Available Information" in the Offering Circular. Capitalized terms used in this Pricing Supplement have the
meanings we gave them in the Offering Circular, unless we specify otherwise.

The Medium-Term Notes may not be suitable investments for you. You should not purchase the Medium-Term
Notes unless you understand and are able to bear the redemption, yield, market, liquidity and other possible risks
associated with the Medium-Term Notes. You should read and evaluate the discussion of risk factors (especially those
risk factors that may be particularly relevant to this security) that appears in the Offering Circular under "Risk Factors"
before purchasing any of the Medium-Term Notes.

The Medium-Term Notes, including any interest or return of discount on the Medium-Term Notes, are not
guaranteed by and are not debts or obligations of the United States or any federal agency or instrumentality other than
Freddie Mac.

Price to Public (1)(2)
Underwriting Discount (2)
Proceeds to Freddie Mac(1)(3)

Per Medium-Term Note
100%
0.0%
100.00%
Total
$20,152,000
$0.00
$20,152,000

(1)
Plus accrued interest, if any, from June 27, 2002.
(2)
See "Distribution Arrangements" in the Offering Circular.
(3)
Before deducting expenses payable by Freddie Mac estimated at $5,000.

Prudential Securities Incorporated

DESCRIPTION OF THE MEDIUM-TERM NOTES

Applicable Interest Rate Index:
LIBOR
Index Currency:
U.S. Dollars
Index Maturity:
6-month
Designated Telerate Page:
3750
Interest Rate:
8.25% per annum, subject to "Interest Accrual" provisions, as
described below.
Interest Accrual:
Interest will accrue on the Medium-Term Notes on each day
during an Interest Payment Period on which 6-Month LIBOR
for the relevant LIBOR Observation Date is within the LIBOR
Range. If the value of 6-Month LIBOR on the relevant
LIBOR Observation Date is more than 0.00% per annum and
less than or equal to 7.50% per annum, interest will accrue on
the Medium-Term Notes for the related day at 8.25% per
annum. If, however, the value of 6-Month LIBOR is less than
or equal to 0.00% per annum or more than 7.50% per annum
on the relevant LIBOR Observation Date, then no interest will
accrue on your Medium-Term Notes for the related day. See
"Risk Factors" below for relevant considerations.
Day Count Convention:
Actual/Actual. The Interest Payment Period will not be
adjusted to reflect any shifting of the Interest Payment Date.
LIBOR Observation Date:
With respect to each London Banking Day during the
applicable Interest Payment Period that does not occur during
the LIBOR Suspension Period, that London Banking Day.
With respect to each day that is not a London Banking Day
during the applicable Interest Payment Period not occurring
during the LIBOR Suspension Period, the last preceding
London Banking Day. With respect to each day during the
applicable Interest Payment Period occurring during the
LIBOR Suspension Period, the LIBOR Observation Date will
be the last London Banking Day preceding the first day of
such LIBOR Suspension Period.
LIBOR Suspension Period:
The period beginning on the seventh (7th) New York Banking
day prior to but excluding each Interest Payment Date
(including the Maturity Date)
LIBOR Range:
6-Month LIBOR > 0.00% and < or = 7.50%
Payment of Interest:
Quarterly, in arrears, on the 27th day of each March, June,
September and December (each such date, an "Interest
Payment Date"), commencing September 27, 2002

RISK FACTORS

An investment in the Medium-Term Notes entails certain risks not associated with an investment in
conventional fixed rate Medium-Term Notes. See "Risk Factors" generally, and "Various Factors Could
Adversely Affect the Trading Value and Yield of Your Securities," in the Offering Circular. The interest rate of
the Medium-Term Notes will be 8.25%, subject to "Interest Accrual" as described above. Investors should
consider the risk that the Interest Accrual provisions applicable to the Medium-Term Notes may result in less

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interest being payable on the Medium-Term Notes than on a conventional fixed rate debt security issued by
Freddie Mac at the same time. Investors should also consider the risk that LIBOR, determined on a daily basis,
may be less than or equal to 0.00% or exceed 7.50% per annum on one or more London Banking Days during
the applicable Interest Payment Period, in which event no interest will accrue for the related days during the
Interest Payment Period.

The secondary market for, and the market value of, the Medium-Term Notes will be affected by a
number of factors independent of the creditworthiness of Freddie Mac, including the level and direction of
interest rates, the Interest Accrual provisions applicable to the Medium-Term Notes, the anticipated level and
potential volatility of LIBOR for the Index Currency at the Index Maturity, the method of calculating LIBOR for
the Index Currency at the Index Maturity, the time remaining to the maturity of the Medium-Term Notes, the
aggregate principal amount of the Medium-Term Notes and the availability of comparable instruments. The level
of LIBOR for the Index Currency at the Index Maturity depends on a number of interrelated factors, including
economic, financial and political events, over which Freddie Mac has no control. The following table, showing
the level of LIBOR for the Index Currency at the Index Maturity in effect for the hypothetical Determination
Dates listed below, illustrates the variability of that rate:

Historical Levels of 6-Month LIBOR

Hypothetical
6-Month
Hypothetical
6-Month
Hypothetical
6-Month
Determination
LIBOR
Determination
LIBOR
Determination
LIBOR
Date
Percentage
Date
Percentage
Date
Percentage
06/27/92
4.0625
12/27/95
5.5625
06/27/99
5.4475
09/27/92
3.3750
03/27/96
5.4492
09/27/99
5.9287
12/27/92
3.6875
06/27/96
5.8125
12/27/99
6.1662
03/27/93
3.3125
09/27/96
5.7304
03/27/00
6.5025
06/27/93
3.5000
12/27/96
5.6250
06/27/00
6.9325
09/27/93
3.3750
03/27/97
5.9375
09/27/00
6.7568
12/27/93
3.5000
06/27/97
5.9062
12/27/00
6.2062
03/27/94
4.1875
09/27/97
5.8437
03/27/01
4.6612
06/27/94
5.0625
12/27/97
5.9062
06/27/01
3.7100
09/27/94
5.6875
03/27/98
5.7500
09/27/01
2.5337
12/27/94
6.9375
06/27/98
5.7500
12/27/01
2.0075
03/27/95
6.4375
09/27/98
5.2500
03/27/02
2.3412
06/27/95
5.8750
12/27/98
5.1568
09/27/95
5.9296
03/27/99
5.0612

The historical experience of LIBOR for the Index Currency at the Index Maturity should not be taken as an
indication of the future performance of LIBOR for the Index Currency at the Index Maturity during the term of the
Medium-Term Notes. Fluctuations in the level of LIBOR for the Index Currency at the Index Maturity make the
Medium-Term Notes' interest rates difficult to predict and can result in actual interest rates to investors that are
lower than anticipated. In addition, historical interest rates are not necessarily indicative of future interest rates.
Fluctuations in interest rates and interest rate trends that have occurred in the past are not necessarily indicative of
fluctuations that may occur in the future, which may be wider or narrower than those that have occurred historically.

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OFFERING

1.
Pricing date:
May 24, 2002
2.
Method of Distribution:
x Principal
Agent
3.
Concession:
.25%
4.
Reallowance:
N/A
5.
Underwriter:
Prudential Securities Incorporated
6.
Underwriter's Counsel:
Cleary, Gottlieb, Steen & Hamilton

CERTAIN UNITED STATES FEDERAL TAX CONSEQUENCES

Freddie Mac believes that the Medium-Term Notes provide for interest at an "objective rate" and therefore
constitute a "variable rate debt instrument," as those terms are used in the OID Regulations. Freddie Mac intends to
report interest deductions with respect to the Medium-Term Notes based on this treatment. For a general discussion
of the tax consequences associated with this type of instrument, see "Certain United States Federal Tax
Consequences" in the Offering Circular. Investors who purchase the Medium-Term Notes at a market discount or
premium should consult their tax advisors regarding the appropriate rate of accrual or amortization for such market
discount or premium.

Although unlikely, it is possible that the Medium-Term Notes would be taxed in some other manner.
Investors should consult their tax advisors regarding alternative treatments, including the possible application of the
contingent payment debt regulations.
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