Obbligazione Freddy Mac 0% ( US3134G1NW02 ) in USD

Freddy Mac

100 USD ⇌

Stati Uniti

US3134G1NW02 ( in USD )

03/08/2040

Prospetto opuscolo dell'obbligazione Freddie Mac US3134G1NW02 en USD 0%, scadenza 03/08/2040

1 000 USD

106 000 000 USD

3134G1NW0

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

Freddie Mac ha emesso un'obbligazione (ISIN: US3134G1NW02, CUSIP: 3134G1NW0) negli Stati Uniti, al prezzo attuale del 100% (USD), con un tasso di interesse dello 0%, scadenza il 03/08/2040, cedole semestrali, taglia totale di emissione di 106.000.000 USD e taglio minimo di 1.000 USD, non ancora valutata da Standard & Poor's e Moody's.

PRICING SUPPLEMENT DATED July 21, 2010
(to Offering Circular Dated February 24, 2010)

$106,000,000

Freddie Mac

Zero Coupon Medium-Term Notes Due August 3, 2040
Redeemable periodically, beginning August 3, 2011

Issue Date:
August 3, 2010
Maturity Date:
August 3, 2040
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 February 3 and August 3, commencing August 3, 2011
Interest Rate:
None
Principal Payment:
At maturity, or upon redemption
CUSIP Number:
3134G1NW0

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
(i) the principal amount of the Medium-Term Notes or (ii) the product of the call price percentage for such redemption date and the
principal amount of the Medium-Term Notes, as applicable. 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 Global Debt Facility Offering Circular, dated February
24, 2010 (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..

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
23.575545%
0.00%
23.575545%
Total
$24,990,078
$0.00
$24,990,078

(1)
Plus return of discount, if any, from August 3, 2010.
(2)
See "Distribution Arrangements" in the Offering Circular.
(3)
Before deducting expenses payable by Freddie Mac estimated at $1,000.

Citigroup Global Markets Inc.

2

OFFERING:

1. Pricing
Date:
July 21, 2010
2.
Method of Distribution:
x Principal
Agent
3. Concession:
N/A
4. Reallowance:
N/A
5.
Underwriter:
Citigroup Global Markets Inc.

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 the 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 redemption dates and based on
the applicable call price percentages 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 percentage for such redemption date and
the principal amount of Medium-Term Notes held by such investor.
18705-3134G1NW0

3

Call Price Schedule

Redemption Date
Call Price Percentage
Redemption Date
Call Price Percentage
8/3/2011
24.738860
8/3/2026
50.950543
2/3/2012
25.341870
2/3/2027
52.192462
8/3/2012
25.959578
8/3/2027
53.464653
2/3/2013
26.592343
2/3/2028
54.767854
8/3/2013
27.240531
8/3/2028
56.102821
2/3/2014
27.904519
2/3/2029
57.470327
8/3/2014
28.584692
8/3/2029
58.871166
2/3/2015
29.281444
2/3/2030
60.306151
8/3/2015
29.995179
8/3/2030
61.776113
2/3/2016
30.726311
2/3/2031
63.281906
8/3/2016
31.475265
8/3/2031
64.824403
2/3/2017
32.242475
2/3/2032
66.404497
8/3/2017
33.028385
8/3/2032
68.023107
2/3/2018
33.833452
2/3/2033
69.681170
8/3/2018
34.658142
8/3/2033
71.379649
2/3/2019
35.502934
2/3/2034
73.119528
8/3/2019
36.368318
8/3/2034
74.901816
2/3/2020
37.254796
2/3/2035
76.727548
8/3/2020
38.162882
8/3/2035
78.597782
2/3/2021
39.093102
2/3/2036
80.513603
8/3/2021
40.045997
8/3/2036
82.476122
2/3/2022
41.022118
2/3/2037
84.486478
8/3/2022
42.022032
8/3/2037
86.545835
2/3/2023
43.046319
2/3/2038
88.655390
8/3/2023
44.095573
8/3/2038
90.816365
2/3/2024
45.170402
2/3/2039
93.030014
8/3/2024
46.271431
8/3/2039
95.297621
2/3/2025
47.399297
2/3/2040
97.620500
8/3/2025
48.554655
*8/3/2040
100.000000
2/3/2026
49.738175
*Maturity Date

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, will pay 100% of their principal
amount, or in the case of redemption, the product of the applicable call price percentage and the principal amount thereof, 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.
18705-3134G1NW0