Obbligazione Freddy Mac 0% ( US3128X4MY47 ) in USD

Freddy Mac

100 USD ⇌

Stati Uniti

US3128X4MY47 ( in USD )

30/09/2030

Prospetto opuscolo dell'obbligazione Freddie Mac US3128X4MY47 en USD 0%, scadenza 30/09/2030

1 000 USD

100 000 000 USD

3128X4MY4

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

L'obbligazione Freddie Mac con codice ISIN US3128X4MY47, codice CUSIP 3128X4MY4, emessa negli Stati Uniti, quota attualmente al 100% in USD, offre un tasso di interesse dello 0%, ha una dimensione totale di emissione di 100.000.000 USD, un taglio minimo di 1.000 USD, una scadenza al 30/09/2030 e frequenza di pagamento semestrale.

PRICING SUPPLEMENT DATED September 13, 2005
(to Offering Circular Dated April 2, 2004)

$100,000,000

Freddie
Mac

Zero Coupon Medium-Term Notes Due September 30, 2030
Redeemable periodically, beginning September 30, 2008

Issue Date:
September 30, 2005
Maturity Date:
September 30, 2030
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 30 and September 30, commencing September 30, 2008
Interest Rate:
None
Principal Payment:
At maturity, or upon redemption
CUSIP Number:
3128X4MY4

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 April 2, 2004 (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
22.810708%
.110%
22.700708%
Total
$22,810,708
$110,000
$22,700,708

(1)
Plus return of discount, if any, from September 30, 2005.
(2)
See "Distribution Arrangements" in the Offering Circular.
(3)
Before deducting expenses payable by Freddie Mac estimated at $5,000.

First Tennessee Bank N.A.
Bear, Stearns & Co. inc.

2

OFFERING:

1. Pricing
date:
September 13, 2005
2.
Method of Distribution:
x Principal
Agent
3. Concession:
.110%
4. Reallowance:
.075%
5. Syndication:
Yes:

Underwriters

Underwriting Commitment

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

Bear, Stearns & Co. Inc.
25,000,000

$100,000,000

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.

Call Price Schedule

Redemption Date
Call Price Percentage
Redemption Date
Call Price Percentage
9/30/2008 27.237178
3/30/2020 53.754928
3/30/2009 28.054294
9/30/2020 55.367575
9/30/2009 28.895922
3/30/2021 57.028603
3/30/2010 29.762800
9/30/2021 58.739461
9/30/2010 30.655684
3/30/2022 60.501645
3/30/2011 31.575355
9/30/2022 62.316694
9/30/2011 32.522615
3/30/2023 64.186195
3/30/2012 33.498294
9/30/2023 66.111781
9/30/2012 34.503243
3/30/2024 68.095134
3/30/2013 35.538340
9/30/2024 70.137988
9/30/2013 36.604490
3/30/2025 72.242128
3/30/2014 37.702625
9/30/2025 74.409391
9/30/2014 38.833703
3/30/2026 76.641673
3/30/2015 39.998715
9/30/2026 78.940923
9/30/2015 41.198676
3/30/2027 81.309151
3/30/2016 42.434636
9/30/2027 83.748426
9/30/2016 43.707675
3/30/2028 86.260878
3/30/2017 45.018906
9/30/2028 88.848705
9/30/2017 46.369473
3/30/2029 91.514166
3/30/2018 47.760557
9/30/2029 94.259591
9/30/2018 49.193374
3/30/2030 97.087379
3/30/2019 50.669175
9/30/2030 100.000000
9/30/2019 52.189250
11653-3128X4MY4

3

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.

11653-3128X4MY4