Obligation Freddy Mac 0% ( US3128X0AU31 ) en USD

Freddy Mac

100 % ▲

Etas-Unis

US3128X0AU31 ( en USD )

0%

02/01/2030

Prospectus brochure de l'obligation Freddie Mac US3128X0AU31 en USD 0%, échéance 02/01/2030

1 000 USD

5 188 000 USD

3128X0AU3

AA+ ( Haute qualité )

N/A

Freddie Mac est une société publique américaine qui achète et garantit des prêts hypothécaires résidentiels, contribuant ainsi à la stabilité du marché du logement.

Une analyse de l'instrument financier révèle une obligation (Code ISIN : US3128X0AU31, Code CUSIP : 3128X0AU3) émise par Freddie Mac (Federal Home Loan Mortgage Corporation), une entité parrainée par le gouvernement (GSE) des États-Unis dont la mission est de stabiliser le marché secondaire du logement en achetant des prêts hypothécaires auprès des prêteurs pour les regrouper et les vendre sous forme de titres, contribuant ainsi à l'accessibilité du crédit immobilier. Cette émission, entièrement libellée en USD et provenant des États-Unis, se distingue par son taux d'intérêt de 0%, la classant comme une obligation à coupon zéro, avec une maturité fixée au 2 janvier 2030; bien qu'une fréquence de paiement semestrielle (2) soit indiquée, cela est inhérent à la structure de valorisation d'un coupon zéro dont le rendement est entièrement réalisé à l'échéance. Actuellement négociée à 100% de son prix nominal sur le marché, cette obligation représente une taille totale d'émission de 5 188 000 unités, avec une taille minimale d'achat de 1 000 unités, et bénéficie d'une notation de crédit solide de AA+ attribuée par l'agence Standard & Poor's (S&P), reflétant un risque de défaut très faible.

PRICING SUPPLEMENT DATED September 26, 2002

(to Offering Circular Dated May 7, 2002)

$5,188,000

Freddie Mac

Zero Coupon Medium-Term Notes Due January 2, 2030

Issue Date:
October 3, 2002
Maturity Date:
January 2, 2030
Subject to Redemption:
No
Interest Rate:
None
Principal Payment:
At maturity
CUSIP Number:
3128X0AU3

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.

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 May 7, 2002 (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 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.

Price to Public (1)(2)
Underwriting Discount (2)
Proceeds to Freddie Mac (1)(3)

Per Medium-Term Note
23.71%
0.11%
23.60%
Total
$1,230,074
$5,706
$1,224,368

(1)
Plus return of discount, if any, from October 3, 2002.
(2)
See "Distribution Arrangements" in the Offering Circular.
(3)
Before deducting expenses payable by Freddie Mac estimated at $5,000.

Goldman, Sachs & Co.

2

OFFERING

1. Pricing
date:
September 26, 2002
2.
Method of Distribution:
x Principal
Agent
3. Concession:
N/A
4. Reallowance:
N/A
5.
Underwriter:
Goldman, Sachs & Co.
6. Underwriter's
Counsel:
Cleary, Gottlieb, Steen & Hamilton

RISK FACTORS

An investment in the Medium-Term Notes presents certain risks that are different from an investment in
conventional fixed-rate debt securities that pay interest periodically. If you hold the Medium-Term Notes to
maturity, they will provide return of your principal, including return of the applicable discount, but their market
value is likely to fluctuate substantially with changes in prevailing interest rates. The market value of the Medium-
Term Notes generally will fall in a rising interest rate environment creating a risk of loss of your investment capital if
your circumstances do not permit you to hold the Medium-Term Notes to maturity; the market value of the Medium-
Term Notes generally will rise in a falling interest rate environment. The possibility of such substantial price
volatility, combined with the fact that payments on the Medium-Term Notes will be made only at maturity, also
could affect the secondary market for, and the liquidity of, the Medium-Term Notes. Consequently, you should
purchase the Medium-Term Notes only if you understand, either alone or with a financial advisor and are able to bear
the yield, market, liquidity and structure risks associated with them. See "Risk Factors" in the Offering Circular.

Prospective investors should consult their own tax and legal advisors as to the tax consequences of holding,
owning and disposing of the Medium-Term Notes, and whether and to what extent the Medium-Term Notes constitute
legal investments for such investors. See "Certain United States Federal Tax Consequences" and "Legal Investment
Considerations" in the Offering Circular.

7004Gsoce3.doc

Document Outline

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