Obbligazione Freddy Mac 0% ( US3134A3LC82 ) in USD

Freddy Mac

100 USD ⇌

Stati Uniti

US3134A3LC82 ( in USD )

26/04/2029

Prospetto opuscolo dell'obbligazione Freddie Mac US3134A3LC82 en USD 0%, scadenza 26/04/2029

1 000 USD

500 000 000 USD

3134A3LC8

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 US3134A3LC82, pays a coupon of 0% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 26/04/2029

OFFERING CIRCULAR SUPPLEMENT
(to Offering Circular Dated
September 13, 1995)
$500,000,000
Freddie Mac
Zero Coupon Debentures Due 2029
Redeemable periodically at the option of Freddie Mac, commencing April 26, 2001
The Zero Coupon Debentures Due 2029 (the "Debentures") are unsecured general obligations of the Federal Home Loan Mortgage
Corporation ("Freddie Mac") offered pursuant to Freddie Mac's Debentures, Medium-Term Notes and Discount Notes Offering Circular dated
September 13, 1995 (the "Offering Circular"). The Debentures will have the terms and characteristics set forth in the Offering Circular and in this
Offering Circular Supplement. Capitalized terms used herein and not otherwise defined herein have the meanings given them in the Offering Circular.
There will be no periodic payments of interest on the Debentures. The only scheduled payment that will be made to the holder of a
Debenture will be made on the Maturity Date or the redemption date, as applicable, in an amount equal to the then principal amount of the Debentures.
The Debentures may be redeemed by prior to their Maturity Date, in whole, on any April 26 or October 26, commencing April 26, 2001, at their
accreted value at the respective dates set forth in the "Call Price Schedule" included under "Redemption" herein. See "Description of the Securities -
Debentures and Medium-Term Notes - Zero Coupon Debentures and Medium-Term Notes" in the Offering Circular.
The Debentures will be issued with original issue discount. See "Certain Federal Tax Consequences - U.S. Owners - Debt Obligations With
Original Issue Discount" in the Offering Circular.
This Offering Circular Supplement should be read in conjunction with the Offering Circular and with Freddie Mac's Information Statement
dated March 31, 1999 and any supplements to such Information Statement.. See "Availability of Information and Incorporation by Reference" in the
Offering Circular.
Proceeds to
Price to
Underwriting
Freddie Mac
Per Debenture . . . . . .
Public (1)(2)
Discount (2)
(1)(3)
12.510816%
.300%
12.210816%
Total . . . . . . . . . . . . .
$62,554,080
$1,500,000
$61,054,080
(1)
Plus accretion, if any, in value from April 26, 1999.
(2)
See "Plan of Distribution" in this Offering Circular Supplement and 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.
It is expected that the Debentures, in book-entry form, will be available for deposit at any Federal Reserve Bank on or about April 26, 1999,
against payment therefor in immediately available funds.
THE DEBENTURES ARE NOT SUITABLE INVESTMENTS FOR ALL INVESTORS. IN PARTICULAR, NO INVESTOR SHOULD
PURCHASE THE DEBENTURES UNLESS THE INVESTOR UNDERSTANDS AND IS ABLE TO BEAR THE ASSOCIATED REDEMPTION,
MARKET, LIQUIDITY AND YIELD RISKS. SEE "CERTAIN INVESTMENT CONSIDERATIONS" IN THIS OFFERING CIRCULAR
SUPPLEMENT AND IN THE OFFERING CIRCULAR.
THE DEBENTURES ARE OBLIGATIONS OF FREDDIE MAC ONLY. THE DEBENTURES, INCLUDING ANY INTEREST OR RETURN
OF DISCOUNT THEREON, ARE NOT GUARANTEED BY THE UNITED STATES AND DO NOT CONSTITUTE DEBTS OR OBLIGATIONS OF
THE UNITED STATES OR ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OTHER THAN FREDDIE MAC. INCOME ON THE
DEBENTURES HAS NO EXEMPTION UNDER FEDERAL LAW FROM FEDERAL, STATE OR LOCAL TAXATION. THE DEBENTURES ARE
EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933 AND ARE "EXEMPTED SECURITIES" WITHIN
THE MEANING OF THE SECURITIES EXCHANGE ACT OF 1934.
______________
EVEREN Securities, Inc.
_______________
Offering Circular Supplement Dated April 14, 1999

2
DESCRIPTION OF THE DEBENTURES
Principal Amount:
$500,000,000
Issue Date:
April 26, 1999
Maturity Date:
April 26, 2029
Payment of Interest:
None
Optional Redemption:
On any April 26 or October 26, commencing April
26, 2001, Freddie Mac may, at its option, upon notice
of not less than 10 Business Days, redeem all (but not
less than all) of the Debentures at the applicable call
price set forth in the Call Price Schedule included
under "Redemption" below
Payment of Principal:
At maturity, subject to prior redemption as
described below
Minimum Principal Amounts:
Debentures will be issued and must be maintained and
transferred in minimum original principal amounts of
$1,000 and additional increments of $1,000
CUSIP Number:
3134A3LC8
REDEMPTION
The Debentures 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 Debentures, each investor
will receive the product of the call price for such redemption date and the principal amount of Debentures held by such investor.
Call Price Schedule
Redemption
Call Price
Redemption
Call Price
Redemption
Call Price
Date
Date
Date
04/26/01
14.370326
04/26/14
35.370632
04/26/27
87.060076
10/26/01
14.876880
10/26/14
36.617447
10/26/27
90.128944
04/26/02
15.401290
04/26/15
37.908212
04/26/28
93.305989
10/26/02
15.944185
10/26/15
39.244477
10/26/28
96.595025
04/26/03
16.506217
04/26/16
40.627844
04/26/29
100.000000
10/26/03
17.088062
10/26/16
42.059976
04/26/04
17.690416
04/26/17
43.542590
10/26/04
18.314003
10/26/17
45.077466
04/26/05
18.959572
04/26/18
46.666447
10/26/05
19.627896
10/26/18
48.311439
04/26/06
20.319780
04/26/19
50.014418
10/26/06
21.036052
10/26/19
51.777426
04/26/07
21.777573
04/26/20
53.602580
10/26/07
22.545232
10/26/20
55.492071
04/26/08
23.339952
04/26/21
57.448167
10/26/08
24.162685
10/26/21
59.473214
04/26/09
25.014420
04/26/22
61.569645
10/26/09
25.896178
10/26/22
63.739975
04/26/10
26.809018
04/26/23
65.986809
10/26/10
27.754036
10/26/23
68.312844
04/26/11
28.732366
04/26/24
70.720872
10/26/11
29.745182
10/26/24
73.213783
04/26/12
30.793700
04/26/25
75.794569
10/26/12
31.879177
10/26/25
78.466327
04/26/13
33.002918
04/26/26
81.232265
10/26/13
34.166271
10/26/26
84.095703

3
CERTAIN INVESTMENT CONSIDERATIONS
An investment in the Debentures entails certain risks not associated with an investment in conventional fixed-rate
debt securities that pay interest periodically. While the Debentures, 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 substantially in a rising interest rate environment in the case of the Debentures due to their long
remaining term to maturity. In such an environment, the market value of the Debentures generally will fall, which could
result in significant losses to investors whose circumstances do not permit them to hold the Debentures until maturity. It is
also unlikely that Freddie Mac would redeem the Debentures 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 Debentures generally would rise, it is likely that Freddie Mac would redeem the Debentures, 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 Debentures otherwise would have. Those factors, combined with the fact that payments
on the Debentures will be made only at maturity or upon redemption, and not periodically, also could affect the secondary
market for and the liquidity of the Debentures. 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 Debentures in light of each investor's particular circumstances and should consider
whether their circumstances permit them to hold the Debentures until maturity, or otherwise to bear the risks of illiquidity,
redemption and changes in interest rates. See "Certain Investment Considerations - Suitability" and "- Market Liquidity
and Yield Considerations" in the Offering Circular.
Prospective investors also should consult their own tax and legal advisors as to the tax consequences of acquiring
the Debentures at a substantial discount from their face value and of holding, owning and disposing of the Debentures,
and whether and to what extent the Debentures constitute legal investments for such investors. See "Certain Federal Tax
Consequences" and "Legal Investment Considerations" in the Offering Circular.
PLAN OF DISTRIBUTION
Subject to the terms and conditions set forth in the Underwriting Agreement between Freddie Mac and EVEREN
Securities, Inc. (the "Underwriter"), Freddie Mac has agreed to sell, and the Underwriter has agreed to purchase, all of the
Debentures offered hereby, if any are sold and purchased.
Freddie Mac has been advised by the Underwriter that it proposes initially to offer the Debentures to the public at
the offering price set forth on the cover page of this Offering Circular Supplement and to certain dealers at such price less
a concession not in excess of .250% of the principal amount of the Debentures and that the Underwriter may allow and
such dealers may reallow a concession not in excess of .225% of the principal amount on sales to certain other dealers.
After the initial public offering, the public offering price and such concessions may be changed by the Underwriter. See
"Plan of Distribution" in the Offering Circular.
In connection with this offering, the Underwriter may engage in certain transactions that stabilize, maintain or
otherwise affect the market price of the Debentures. Such transactions may include bids or purchases for the purpose of
pegging, fixing or maintaining the market price of the Debentures and the purchase of Debentures to cover short positions.
The Underwriter may create a short position in the Debentures in connection with the offering by selling
Debentures with a principal amount greater than that set forth on the cover of this Offering Circular Supplement, and may
reduce that short position by purchasing Debentures in the open market. In general, purchases of a security for the
purpose of stabilization or to reduce a short position could cause the price of the security to be higher than it might be in
the absence of such purchases.

4
Neither Freddie Mac nor the Underwriter makes any representation or prediction as to the direction or magnitude
of any effect that the transactions described above may have on the price of the Debentures. In addition, neither Freddie
Mac nor the Underwriter makes any representation that the Underwriter will engage in such transactions or that such
transactions, if commenced, will be continued.
CERTAIN FEDERAL TAX CONSEQUENCES
The Taxpayer Relief Act of 1997 revises the definition of "U.S. Person" (as defined in the Offering Circular under
"Certain Federal Tax Consequences") to mean a citizen or resident of the United States, a corporation, partnership or other
entity created or organized in or under the laws of the United States or any State (other than a partnership that is not treated
as a U.S. Person under any applicable Treasury regulations), or an estate whose income is subject to United States federal
income tax regardless of its source, or a trust if a court within the United States is able to exercise primary supervision over
the administration of the trust and one or more U.S. Persons have the authority to control all substantial decisions of the
trust. Notwithstanding the preceding sentence, to the extent provided in Treasury regulations, certain trusts in existence on
August 20, 1996, and treated as U.S. Persons prior to such date, that elect to continue to be treated as U.S. Persons, also
will be U.S. Persons.
CAPITALIZATION
Freddie Mac's capitalization as of December 31, 1998 is set forth in a capitalization table in Freddie Mac's
Information Statement dated March 31, 1999. See "Capitalization" in the Offering Circular.
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