Obligation Freddy Mac 0% ( US3134G2X806 ) en USD

Freddy Mac

100 % ⇌

Etas-Unis

US3134G2X806 ( en USD )

18/10/2041

Prospectus brochure de l'obligation Freddie Mac US3134G2X806 en USD 0%, échéance 18/10/2041

1 000 USD

100 000 000 USD

3134G2X80

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

Freddie Mac a émis une obligation (ISIN : US3134G2X806, CUSIP : 3134G2X80) d'une valeur totale de 100 000 000 USD, négociée actuellement à 100%, à un taux d'intérêt de 0%, échéant le 18/10/2041, avec des paiements semestriels, et une taille minimale d'achat de 1 000 USD, non notée par Moody's et Standard & Poor's.

PRICING SUPPLEMENT DATED September 29, 2011
(to Offering Circular Dated February 25, 2011)

$100,000,000

Freddie Mac

Zero Coupon Medium-Term Notes Due October 18, 2041
Redeemable periodically, beginning April 18, 2012

Issue Date:
October 18, 2011
Maturity Date:
October 18, 2041
Subject to Redemption: Yes. The Medium-Term Notes are redeemable at our option, upon notice of not less than 5
Business Days. See "Redemption" herein. We will redeem all of the Medium-Term Notes if
we exercise our option.
Redemption Date(s):
Semiannually, on April 18 and October 18, commencing April 18, 2012
Interest Rate:
None
Principal Payment:
At maturity, or upon redemption
CUSIP Number:
3134G2X80

There will be no periodic payments of interest on the Medium-Term Notes. The only scheduled payment that will be made
to the holder of a Medium-Term Note will be made on the Maturity Date or the redemption date, as applicable, in an amount equal to
(i) the principal amount of the Medium-Term Notes or (ii) the product of the call price percentage for such redemption date and the
principal amount of the Medium-Term Notes, as applicable. See "Redemption" herein.

The Medium-Term Notes will be issued with original issue discount. See "Certain United States Federal Tax Consequences
- U.S. Owners - Debt Obligations with Original Issue Discount" in the Offering Circular.

You should read this Pricing Supplement together with Freddie Mac's Global Debt Facility Offering Circular, dated February
25, 2011 (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 "Additional 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.

Any discussion of tax issues set forth in this Pricing Supplement and the related Offering Circular was written to
support the promotion and marketing of the transactions described in this Pricing Supplement. Such discussion was not
intended or written to be used, and it cannot be used, by any person for the purpose of avoiding any tax penalties that may
be imposed on such person. Each investor should seek advice based on its particular circumstances from an independent tax
advisor.

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

Per Medium-Term Note
25.780007%
.15%
25.630007%
Total
$25,780,007
$150,000
$25,630,007

(1)
Plus return of discount, if any, from October 18, 2011.
(2)
See "Distribution Arrangements" in the Offering Circular.
(3)
Before deducting expenses payable by Freddie Mac estimated at $1,000.

First Tennessee Bank N.A.
Citigroup Global Markets Inc.

2

OFFERING:

1. Pricing
Date:
September 29, 2011
2.
Method of Distribution:
x Principal
Agent
3. Concession:
N/A
4. Reallowance:
N/A
5. Syndication:
Yes:

Underwriters

Underwriting
Commitment

First Tennessee Bank National Association (the "Representative") $75,000,000

Citigroup Global Markets Inc. 25,000,000

$100,000,000

OTHER SPECIAL TERMS:
x
Yes; as follows:

In connection with the issuance of the Medium-Term Notes, Freddie Mac may enter
into a swap or other hedging agreement with an Underwriter, one of its affiliates or a
third party. Any such agreement may provide for the payment of fees or other
compensation or provide other economic benefits (including trading gains or
temporary funding) to, and will impose obligations on, the parties, but will not affect
the rights of Holders of, or the obligations of Freddie Mac as to, the Medium-Term
Notes. The existence of such an agreement may influence our decision to exercise
our right of optional redemption as to the Medium-Term Notes.

REDEMPTION:

The Medium-Term Notes are subject to redemption by Freddie Mac, at its option, on the redemption dates and based on
the applicable call price percentages set forth in the following Call Price Schedule. Upon exercise of Freddie Mac's option to
redeem the Medium-Term Notes, each investor will receive the product of the call price percentage for such redemption date and
the principal amount of Medium-Term Notes held by such investor.
20280-3134G2X80

3

Call Price Schedule

Redemption Date
Call Price Percentage
Redemption Date
Call Price Percentage
4/18/2012 26.369080
10/18/2027 53.120899
10/18/2012 26.971614
4/18/2028 54.334711
4/18/2013 27.587915
10/18/2028 55.576259
10/18/2013 28.218299
4/18/2029 56.846177
4/18/2014 28.863087
10/18/2029 58.145112
10/18/2014 29.522608
4/18/2030 59.473728
4/18/2015 30.197200
10/18/2030 60.832703
10/18/2015 30.887206
4/18/2031 62.222730
4/18/2016 31.592979
10/18/2031 63.644519
10/18/2016 32.314878
4/18/2032 65.098796
4/18/2017 33.053273
10/18/2032 66.586304
10/18/2017 33.808541
4/18/2033 68.107801
4/18/2018 34.581066
10/18/2033 69.664064
10/18/2018 35.371243
4/18/2034 71.255888
4/18/2019 36.179476
10/18/2034 72.884085
10/18/2019 37.006177
4/18/2035 74.549487
4/18/2020 37.851768
10/18/2035 76.252942
10/18/2020 38.716681
4/18/2036 77.995322
4/18/2021 39.601357
10/18/2036 79.777515
10/18/2021 40.506248
4/18/2037 81.600431
4/18/2022 41.431816
10/18/2037 83.465001
10/18/2022 42.378533
4/18/2038 85.372176
4/18/2023 43.346882
10/18/2038 87.322931
10/18/2023 44.337359
4/18/2039 89.318260
4/18/2024 45.350467
10/18/2039 91.359182
10/18/2024 46.386726
4/18/2040 93.446739
4/18/2025 47.446662
10/18/2040 95.581997
10/18/2025 48.530818
4/18/2041 97.766046
4/18/2026 49.639748
*10/18/2041 100.000000
10/18/2026 50.774016 *Maturity Date
4/18/2027 51.934202

RISK FACTORS:

An investment in the Medium-Term Notes entails certain risks not associated with an investment in conventional fixed-rate
debt securities that pay interest periodically. While the Medium-Term Notes, if held to maturity, will pay 100% of their principal
amount, or in the case of redemption, the product of the applicable call price percentage and the principal amount thereof, including
return of the accreted value to the optional redemption date, their market value could be adversely affected by changes in prevailing
interest rates and the optional redemption feature. This effect on the market value could be magnified in a rising interest rate
environment in the case of the Medium-Term Notes due to their relatively long remaining term to maturity. In such an environment,
the market value of the Medium-Term Notes generally will fall, which could result in significant losses to investors whose
circumstances do not permit them to hold the Medium-Term Notes until maturity. It is also unlikely that Freddie Mac would redeem
the Medium-Term Notes in such an interest rate environment, when Freddie Mac's costs of borrowing would be relatively high. On
the other hand, in a falling interest rate environment, in which the market value of the Medium-Term Notes generally would rise, it
is likely that Freddie Mac would redeem the Medium-Term Notes, when its costs of borrowing would be relatively low; under those
circumstances, it is likely that the optional redemption provision would restrict the market value that the Medium-Term Notes
20280-3134G2X80

4

otherwise would have. Those factors, combined with the fact that payments on the Medium-Term Notes will be made only at
maturity or upon redemption, and not periodically, also could affect the secondary market for and the liquidity of the Medium-Term
Notes. Investors therefore should have the financial status and, either alone or with a financial advisor, the knowledge and
experience in financial and business matters sufficient to evaluate the merits and to bear the risks of investing in the Medium-Term
Notes in light of each investor's particular circumstances and should consider whether their circumstances permit them to hold the
Medium-Term Notes until maturity, or otherwise to bear the risks of illiquidity, redemption and changes in interest rates. See "Risk
Factors" in the Offering Circular.

20280-3134G2X80