Obbligazione Freddy Mac 0% ( US312924AW38 ) in USD

Emittente Freddy Mac
Prezzo di mercato 100 USD  ⇌ 
Paese  Stati Uniti
Codice isin  US312924AW38 ( in USD )
Tasso d'interesse 0%
Scadenza 16/08/2023 - Obbligazione č scaduto



Prospetto opuscolo dell'obbligazione Freddie Mac US312924AW38 in USD 0%, scaduta


Importo minimo 1 000 USD
Importo totale 250 000 000 USD
Cusip 312924AW3
Descrizione dettagliata Freddie Mac č una societą pubblica statunitense che acquista e garantisce mutui ipotecari residenziali, contribuendo alla stabilitą del mercato immobiliare.

The Obbligazione issued by Freddy Mac ( United States ) , in USD, with the ISIN code US312924AW38, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 16/08/2023









PRICING SUPPLEMENT DATED August 2, 2001

(to Offering Circular Dated January 18, 2001)








$250,000,000


Freddie Mac


Zero Coupon Medium-Term Notes Due August 16, 2023
Redeemable periodically, beginning August 16, 2002

Issue Date:
August 16, 2001
Maturity Date:
August 16, 2023
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 the 16th day of February and August, commencing
August 16, 2002
Interest Rate Per Annum:
Zero
Principal Payment:
At maturity, or upon redemption
CUSIP Number:
312924AW3


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 January 18, 2001 (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.



Proceeds to

Price to
Underwriting
Freddie Mac

Public (1)(2)
Discount (2)
(1)(3)
Per Medium-Term Notes
18.772166%
.025%
18.747166%
Total
$46,930,415
$62,500
$46,867,915

(1)
Plus return of discount, if any, from August 16, 2001.
(2)
See "Distribution Arrangements" in the Offering Circular for additional information concerning price to public and
underwriting compensation.
(3)
Before deducting expenses payable by Freddie Mac estimated at $5,000.

Dain Rauscher Incorporated



2


OFFERING


1. Pricing
date:
August 2, 2001
2.
Method of Distribution:
x Principal
Agent
3. Concession:
N/A
4. Reallowance:
N/A
5.
Underwriter:
Dain Rauscher Incorporated


OTHER SPECIAL TERMS
None
x
Yes; as follows:



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 Call Price
Redemption
Call Price
Redemption Call Price
Date
%
Date
%
Date
%
8/16/2002 20.255196
2/16/2010 35.826304
8/16/2017 63.367644
2/16/2003 21.040085
8/16/2010 37.214573
2/16/2018 65.823140
8/16/2003 21.855388
2/16/2011 38.656638
8/16/2018 68.373787
2/16/2004 22.702285
8/16/2011 40.154583
2/16/2019 71.023271
8/16/2004 23.581998
2/16/2012 41.710573
8/16/2019 73.775423
2/16/2005 24.495801
8/16/2012 43.326857
2/16/2020 76.634220
8/16/2005 25.445013
2/16/2013 45.005773
8/16/2020 79.603796
2/16/2006 26.431007
8/16/2013 46.749747
2/16/2021 82.688443
8/16/2006 27.455209
2/16/2014 48.561300
8/16/2021 85.892620
2/16/2007 28.519098
8/16/2014 50.443050
2/16/2022 89.220960
8/16/2007 29.624213
2/16/2015 52.397718
8/16/2022 92.678272
2/16/2008 30.772151
8/16/2015 54.428130
2/16/2023 96.269555
8/16/2008 31.964572
2/16/2016 56.537220
8/16/2023 100.000000
2/16/2009 33.203199
8/16/2016 58.728037
8/16/2009 34.489823
2/16/2017 61.003748


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
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3


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.

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