Obbligazione Freddy Mac 4.65% ( US3133F4BD26 ) in USD

Freddy Mac

100 USD ⇌

Stati Uniti

US3133F4BD26 ( in USD )

4.65% per anno ( pagato 2 volte l'anno)

15/06/2029

Prospetto opuscolo dell'obbligazione Freddie Mac US3133F4BD26 en USD 4.65%, scadenza 15/06/2029

1 000 USD

10 889 000 USD

3133F4BD2

AA+ ( High grade - Investment-grade )

NR

15/12/2025 ( In 131 giorni )

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 US3133F4BD26, pays a coupon of 4.65% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 15/06/2029

The Obbligazione issued by Freddy Mac ( United States ) , in USD, with the ISIN code US3133F4BD26, was rated NR by Moody's credit rating agency.

The Obbligazione issued by Freddy Mac ( United States ) , in USD, with the ISIN code US3133F4BD26, was rated AA+ ( High grade - Investment-grade ) by Standard & Poor's ( S&P ) credit rating agency.

Pricing Supplement No.438 (Page 1 of 1)
(to Offering Circular dated April 3, 2009)

Freddie Mac
FreddieNotes® Securities
With Maturities of 12 Months or More from Date of Issue

Trade Date:
June 1, 2009
Issue Date:
June 4, 2009

Interest Payment

Subject to Redemption

Interest
Maturity
Price to
Original

Survivor's

Discounts
Proceeds to
CUSIP
Rate1
Date
2
Principal
Frequency
First Payment
Option
Yes/No
Date and Terms of redemption
and
Freddie Mac
Public
Amount
Commissions
4
3

Callable by Freddie Mac at 100%,

3133F4AX9
2.00%
December 15, 2012
100%
$5,981,000
Semi
December 15, 2009
Yes
Yes
in whole only, on June 15, 2010
0.930%
99.070%

and continuously thereafter

Callable by Freddie Mac at 100%,

3133F4AZ4
3.00%
December 15, 2014
100%
$18,190,000
Semi
December 15, 2009
Yes
Yes
in whole only, on June 15, 2010
1.570%
98.430%

and continuously thereafter

Callable by Freddie Mac at 100%,

3133F4BC4
5.00%
June 15, 2029
100%
$25,875,000
Semi
December 15, 2009
Yes
Yes
in whole only, on June 15, 2010
2.050%
97.950%

and continuously thereafter

Callable by Freddie Mac at 100%,

3133F4BD2
4.65%
June 15, 2029
100%
$10,889,000
Monthly
July 15, 2009
Yes
Yes
in whole only, on June 15, 2013
2.750%
97.250%

and continuously thereafter

FreddieNotes are obligations of Freddie Mac only. FreddieNotes, including any interest or return of discount on FreddieNotes, are not guaranteed by and are not debts or obligations of the
United States or any agency or instrumentality of the United States 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.

You should read this Pricing Supplement together with Freddie Mac's Global Debt Facility Offering Circular, dated April 3, 2009 (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.

Original Issue Discount Note: No
Total Amount of OID: N/A

1.
The interest rates on the FreddieNotes may be changed by Freddie Mac from time to time, but any such change will not affect the interest rate on any FreddieNotes offered prior to the
effective date of the change.
2.
Expressed as a percentage of aggregate principal amount.
3.
See "Supplemental Plan of Distribution" in the Offering Circular Supplement and "Distribution Arrangements" in the Offering Circular for additional information concerning price to public
and underwriting compensation.
4.
Before deducting expenses payable by Freddie Mac estimated at $1,000.

16840-16847FN

Pricing Supplement No.438 (Page 2 of 2)
(to Offering Circular dated April 3, 2009)

Freddie Mac
FreddieNotes® Securities
With Maturities of 12 Months or More from Date of Issue

Trade Date:
June 1, 2009
Issue Date:
June 4, 2009

Interest Payment

Subject to Redemption

Interest
Maturity
Price to 2
Original

Surviv

Discounts
Proceeds to
CUSIP
Rate1
Date
Public 3
Principal
Frequency
First Payment
or's
Yes/No
Date and Terms of redemption
and
Freddie Mac
Amount
Option
Commissions
4

Callable by Freddie Mac at 100%,

3133F4AW1
*Step
June 15, 2012
100%
$5,852,000
Semi
December 15, 2009
Yes
Yes
in whole only, on June 15, 2010
0.730%
99.270%

and continuously thereafter

*Step Coupon Schedule:

June 4, 2009 to, but not including, June 15, 2010;
1.00%
June 15, 2010 to, but not including, June 15, 2011;
2.00%
June 15, 2011 to, but not including, June 15, 2012.
3.00%
FreddieNotes are obligations of Freddie Mac only. FreddieNotes, including any interest or return of discount on FreddieNotes, are not guaranteed by and are not debts or obligations of the
United States or any agency or instrumentality of the United States 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.

You should read this Pricing Supplement together with Freddie Mac's Global Debt Facility Offering Circular, dated April 3, 2009 (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.

Original Issue Discount Note: No
Total Amount of OID: N/A

1.
The interest rates on the FreddieNotes may be changed by Freddie Mac from time to time, but any such change will not affect the interest rate on any FreddieNotes offered prior to the
effective date of the change.
2.
Expressed as a percentage of aggregate principal amount.
3.
See "Supplemental Plan of Distribution" in the Offering Circular Supplement and "Distribution Arrangements" in the Offering Circular for additional information concerning price to public
and underwriting compensation.
4.
Before deducting expenses payable by Freddie Mac estimated at $1,000.

16840-16847FN

Pricing Supplement No.438 (Page 3 of 3)
(to Offering Circular dated April 3, 2009)

Freddie Mac
FreddieNotes® Securities
With Maturities of 12 Months or More from Date of Issue

Trade Date:
June 1, 2009
Issue Date:
June 4, 2009

Interest Payment

Subject to Redemption

Interest
Maturity
Price to 2
Original

Survivor's

Discounts
Proceeds to
CUSIP
Rate1
Date
Public 3
Principal
Frequency
First Payment
Option
Yes/No
Date and Terms of redemption
and
Freddie Mac
Amount
Commissions
4

Callable by Freddie Mac at 100%,

3133F4AY7
*Step
June 15, 2014
100%
$21,142,000
Semi
December 15, 2009
Yes
Yes
in whole only, on June 15, 2010
0.980%
99.020%

and continuously thereafter

*Step Coupon Schedule:

June 4, 2009 to, but not including, June 15, 2011;
2.00%
June 15, 2011 to, but not including, June 15, 2012;
2.50%
June 15, 2012 to, but not including, June 15, 2013;
4.00%
June 15, 2013 to, but not including, June 15, 2014.
6.00%

FreddieNotes are obligations of Freddie Mac only. FreddieNotes, including any interest or return of discount on FreddieNotes, are not guaranteed by and are not debts or obligations of the
United States or any agency or instrumentality of the United States 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.

You should read this Pricing Supplement together with Freddie Mac's Global Debt Facility Offering Circular, dated April 3, 2009 (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.

Original Issue Discount Note: No
Total Amount of OID: N/A

1.
The interest rates on the FreddieNotes may be changed by Freddie Mac from time to time, but any such change will not affect the interest rate on any FreddieNotes offered prior to the
effective date of the change.
2.
Expressed as a percentage of aggregate principal amount.
3.
See "Supplemental Plan of Distribution" in the Offering Circular Supplement and "Distribution Arrangements" in the Offering Circular for additional information concerning price to public
and underwriting compensation.
4.
Before deducting expenses payable by Freddie Mac estimated at $1,000.

16840-16847FN

Pricing Supplement No.438 (Page 4 of 4)
(to Offering Circular dated April 3, 2009)

Freddie Mac
FreddieNotes® Securities
With Maturities of 12 Months or More from Date of Issue

Trade Date:
June 1, 2009
Issue Date:
June 4, 2009

Interest Payment

Subject to Redemption

Interest
Maturity
Price to 2
Original

Survivor's

Discounts
Proceeds to
CUSIP
Rate1
Date
Public 3
Principal
Frequency
First Payment
Option
Yes/No
Date and Terms of redemption
and
Freddie Mac
Amount
Commissions
4

Callable by Freddie Mac at 100%,

3133F4BA8
*Step
June 15, 2017
100%
$12,006,000
Semi
December 15, 2009
Yes
Yes
in whole only, on June 15, 2010
1.320%
98.680%

and continuously thereafter

*Step Coupon Schedule:

June 4, 2009 to, but not including, June 15, 2011;
2.00%
June 15, 2011 to, but not including, June 15, 2013;
4.00%
June 15, 2013 to, but not including, June 15, 2015;
6.00%
June 15, 2015 to, but not including, June 15, 2017.
8.00%

FreddieNotes are obligations of Freddie Mac only. FreddieNotes, including any interest or return of discount on FreddieNotes, are not guaranteed by and are not debts or obligations of the
United States or any agency or instrumentality of the United States 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.

You should read this Pricing Supplement together with Freddie Mac's Global Debt Facility Offering Circular, dated April 3, 2009 (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.

Original Issue Discount Note: No
Total Amount of OID: N/A

1.
The interest rates on the FreddieNotes may be changed by Freddie Mac from time to time, but any such change will not affect the interest rate on any FreddieNotes offered prior to the
effective date of the change.
2.
Expressed as a percentage of aggregate principal amount.
3.
See "Supplemental Plan of Distribution" in the Offering Circular Supplement and "Distribution Arrangements" in the Offering Circular for additional information concerning price to public
and underwriting compensation.
4.
Before deducting expenses payable by Freddie Mac estimated at $1,000.

16840-16847FN

Pricing Supplement No.438 (Page 5 of 5)
(to Offering Circular dated April 3, 2009)

Freddie Mac
FreddieNotes® Securities
With Maturities of 12 Months or More from Date of Issue

Trade Date:
June 1, 2009
Issue Date:
June 4, 2009

Interest Payment

Subject to Redemption

Interest
Maturity
Price to 2
Original

Survivor's

Discounts
Proceeds to
CUSIP
Rate1
Date
Public 3
Principal
Frequency
First Payment
Option
Yes/No
Date and Terms of redemption
and
Freddie Mac
Amount
Commissions
4

Callable by Freddie Mac at 100%,

3133F4BB6
*Step
June 15, 2021
100%
$11,357,000
Semi
December 15, 2009
Yes
Yes
in whole only, on June 15, 2010
1.560%
98.440%

and continuously thereafter

*Step Coupon Schedule:

June 4, 2009 to, but not including, June 15, 2012;
3.50%
June 15, 2012 to, but not including, June 15, 2014;
4.00%
June 15, 2014 to, but not including, June 15, 2016;
5.00%
June 15, 2016 to, but not including, June 15, 2018;
6.00%
June 15, 2018 to, but not including, June 15, 2020;
7.00%
June 15, 2020 to, but not including, June 15, 2021.
8.00%

FreddieNotes are obligations of Freddie Mac only. FreddieNotes, including any interest or return of discount on FreddieNotes, are not guaranteed by and are not debts or obligations of the
United States or any agency or instrumentality of the United States 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.

You should read this Pricing Supplement together with Freddie Mac's Global Debt Facility Offering Circular, dated April 3, 2009 (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.

Original Issue Discount Note: No
Total Amount of OID: N/A

1.
The interest rates on the FreddieNotes may be changed by Freddie Mac from time to time, but any such change will not affect the interest rate on any FreddieNotes offered prior to the
effective date of the change.
2.
Expressed as a percentage of aggregate principal amount.
3.
See "Supplemental Plan of Distribution" in the Offering Circular Supplement and "Distribution Arrangements" in the Offering Circular for additional information concerning price to public
and underwriting compensation.
4.
Before deducting expenses payable by Freddie Mac estimated at $1,000.

16840-16847FN