Obbligazione Freddy Mac 0% ( US3128X4L663 ) in USD

Freddy Mac

100 USD ⇌

Stati Uniti

US3128X4L663 ( in USD )

07/03/2036

Prospetto opuscolo dell'obbligazione Freddie Mac US3128X4L663 en USD 0%, scadenza 07/03/2036

1 000 USD

750 000 000 USD

3128X4L66

Freddie Mac è una società pubblica statunitense che acquista e garantisce mutui ipotecari residenziali, contribuendo alla stabilità del mercato immobiliare.

The Obbligazione issued by Freddy Mac ( United States ) , in USD, with the ISIN code US3128X4L663, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 07/03/2036

PRICING SUPPLEMENT DATED February 13, 2006
(to Offering Circular Dated November 11, 2005)

$750,000,000

Freddie Mac

Zero Coupon Medium-Term Notes Due March 7, 2036
Redeemable periodically, beginning March 7, 2007

Issue Date:
March 7, 2006
Maturity Date:
March 7, 2036
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 March 7 and September 7, commencing March 7, 2007
Interest Rate:
None
Principal Payment:
At maturity, or upon redemption
CUSIP Number:
3128X4L66

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
the product of the call price for such redemption date and the principal amount of the Medium-Term Notes. 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 Debentures, Medium-Term Notes and Discount Notes
Offering Circular, dated November 11, 2005 (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.

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
12.693431%
.05%
12.643431%
Total
$95,200,733
$375,000
$94,825,733

(1)
Plus return of discount, if any, from March 7, 2006.
(2)
See "Distribution Arrangements" in the Offering Circular.
(3)
Before deducting expenses payable by Freddie Mac estimated at $5,000.

Bear, Stearns & Co. Inc.
Deutsche Bank
Lehman Brothers

2

OFFERING:

1. Pricing
date:
February 13, 2006
2.
Method of Distribution:
x Principal
Agent
3. Concession:
N/A
4. Reallowance:
N/A
5. Syndication:
Yes:

Underwriters

Underwriting
Commitment

Bear, Stearns & Co. Inc.(the "Representative") $250,000,000

Deutsche Bank Securities Inc. 250,000,000

Lehman Brothers Inc. 250,000,000

$750,000,000

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 dates and at the respective call
prices 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 for such redemption date and the principal amount of Medium-Term
Notes held by such investor.
12144-3128X4L66

3

Call Price Schedule

Redemption Date
Call Price Percentage
Redemption Date
Call Price Percentage
3/7/2007 13.597520
3/7/2022 38.165434
9/7/2007 14.073433
9/7/2022 39.501224
3/7/2008 14.566004
3/7/2023 40.883767
9/7/2008 15.075814
9/7/2023 42.314699
3/7/2009 15.603467
3/7/2024 43.795713
9/7/2009 16.149589
9/7/2024 45.328563
3/7/2010 16.714824
3/7/2025 46.915063
9/7/2010 17.299843
9/7/2025 48.557090
3/7/2011 17.905337
3/7/2026 50.256588
9/7/2011 18.532024
9/7/2026 52.015569
3/7/2012 19.180645
3/7/2027 53.836114
9/7/2012 19.851968
9/7/2027 55.720378
3/7/2013 20.546787
3/7/2028 57.670591
9/7/2013 21.265924
9/7/2028 59.689062
3/7/2014 22.010231
3/7/2029 61.778179
9/7/2014 22.780590
9/7/2029 63.940415
3/7/2015 23.577910
3/7/2030 66.178330
9/7/2015 24.403137
9/7/2030 68.494571
3/7/2016 25.257247
3/7/2031 70.891881
9/7/2016 26.141250
9/7/2031 73.373097
3/7/2017 27.056194
3/7/2032 75.941156
9/7/2017 28.003161
9/7/2032 78.599096
3/7/2018 28.983272
3/7/2033 81.350064
9/7/2018 29.997686
9/7/2033 84.197317
3/7/2019 31.047605
3/7/2034 87.144223
9/7/2019 32.134271
9/7/2034 90.194271
3/7/2020 33.258971
3/7/2035 93.351070
9/7/2020 34.423035
9/7/2035 96.618357
3/7/2021 35.627841
3/7/2036 100.000000
9/7/2021 36.874815

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 or redemption, will provide return
of their principal, 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 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.

12144-3128X4L66