Obligation Freddy Mac 0% ( US312924YK34 ) en USD

Freddy Mac

100 % ⇌

Etas-Unis

US312924YK34 ( en USD )

0%

18/12/2026

Prospectus brochure de l'obligation Freddie Mac US312924YK34 en USD 0%, échéance 18/12/2026

1 000 USD

350 000 000 USD

312924YK3

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

L'article financier détaille une obligation émise par la Federal Home Loan Mortgage Corporation (Freddie Mac), une entreprise parrainée par le gouvernement (GSE) des États-Unis, dont la mission est de soutenir le marché du logement et l'accès au crédit hypothécaire. Cette émission, identifiée par le code ISIN US312924YK34 et le code CUSIP 312924YK3, est libellée en dollars américains (USD) et représente une taille totale d'émission de 350 000 000 USD, avec une taille minimale d'achat fixée à 1 000 USD. Actuellement négociée à 100% de son prix nominal sur le marché, cette obligation présente la particularité d'être à taux d'intérêt zéro (0%), ce qui signifie qu'elle ne verse aucun coupon périodique à l'investisseur, la rémunération étant issue de la différence entre le prix d'achat et le montant remboursé à l'échéance. La maturité de cette obligation est fixée au 18 décembre 2026 et son pays d'émission est les États-Unis.

PRICING SUPPLEMENT DATED November 28, 2001

(to Offering Circular Dated January 18, 2001)

$350,000,000

Freddie Mac

Zero Coupon Medium-Term Notes Due December 18, 2026
Redeemable periodically, beginning December 18, 2002

Issue Date:
December 18, 2001
Maturity Date:
December 18, 2026
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 June 18 and December 18, commencing December 18, 2002
Interest Rate Per Annum:
None
Principal Payment:
At maturity, or upon redemption
CUSIP Number:
312924YK3

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
15.124289%
.10%
15.024289%
Total
$52,935,012
$350,000
$52,585,012

(1)
Plus return of discount, if any, from December 18, 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.

NBC Capital Markets Group Inc.

2

OFFERING

1. Pricing
date:
November 28, 2001
2.
Method of Distribution:
x Principal
Agent
3. Concession:
N/A
4. Reallowance:
N/A
5.
Underwriter:
NBC Capital Markets Group Inc.

OTHER SPECIAL TERMS
x None

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
%
12/18/2002 16.311277
6/18/2011 31.002625
12/18/2019 58.926275
6/18/2003 16.939261
12/18/2011 32.196226
6/18/2020 61.194937
12/18/2003 17.591423
6/18/2012 33.435781
12/18/2020 63.550942
6/18/2004 18.268692
12/18/2012 34.723059
6/18/2021 65.997653
12/18/2004 18.972037
6/18/2013 36.059897
12/18/2021 68.538562
6/18/2005 19.702460
12/18/2013 37.448203
6/18/2022 71.177297
12/18/2005 20.461005
6/18/2014 38.889958
12/18/2022 73.917623
6/18/2006 21.248754
12/18/2014 40.387222
6/18/2023 76.763452
12/18/2006 22.066831
6/18/2015 41.942130
12/18/2023 79.718844
6/18/2007 22.916404
12/18/2015 43.556902
6/18/2024 82.788020
12/18/2007 23.798685
6/18/2016 45.233843
12/18/2024 85.975359
6/18/2008 24.714935
12/18/2016 46.975345
6/18/2025 89.285410
12/18/2008 25.666460
6/18/2017 48.783896
12/18/2025 92.722898
6/18/2009 26.654618
12/18/2017 50.662076
6/18/2026 96.292730
12/18/2009 27.680821
6/18/2018 52.612566
12/18/2026 100.000000
6/18/2010 28.746533
12/18/2018 54.638150
12/18/2010 29.853274
6/18/2019 56.741719

r\legal\ftso\debent\dealers\zerocall\5407NBCdec18.doc

3

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
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.
r:\legal\ftso\debent\dealers\zerocall\5407NBCdec18.doc

Document Outline

#1">Freddie Mac
#2">REDEMPTION