Obligation Freddy Mac 0% ( US3134A3AE67 ) en USD

Freddy Mac

100 % ⇌

Etas-Unis

US3134A3AE67 ( en USD )

15/03/2029

Prospectus brochure de l'obligation Freddie Mac US3134A3AE67 en USD 0%, échéance 15/03/2029

1 000 USD

200 000 000 USD

3134A3AE6

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'Obligation émise par Freddy Mac ( Etas-Unis ) , en USD, avec le code ISIN US3134A3AE67, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 15/03/2029

OFFERING CIRCULAR SUPPLEMENT
(to Offering Circular Dated
September 13, 1995)
$200,000,000
Freddie Mac
Zero Coupon Debentures Due 2029
Redeemable periodically at the option of Freddie Mac, commencing March 15, 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 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, 1998, its Information Statement Supplements dated May 15, 1998, August 14, 1998, November 3, 1998 and January 29, 1999 and any
other 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)
12.693431%
.275%
12.418431%
Total . . . . . . . . . . . . .
$25,386,862
$550,000
$24,836,862
(1)
Plus accretion, if any, in value from March 15, 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 March 15, 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.
Morgan Keegan & Company, Inc.
_______________
Offering Circular Supplement Dated February 18, 1999

2
DESCRIPTION OF THE DEBENTURES
Principal Amount:
$200,000,000
Issue Date:
March 15, 1999
Maturity Date:
March 15, 2029
Payment of Interest:
None
Optional Redemption:
On any March 15 or September 15, commencing
March 15, 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:
3134A3AE6
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
03/15/2001
14.566004
03/15/2014
35.627841
03/15/2027
87.144223
09/15/2001
15.075814
09/15/2014
36.874815
09/15/2027
90.194271
03/15/2002
15.603467
03/15/2015
38.165434
03/15/2028
93.351070
09/15/2002
16.149589
09/15/2015
39.501224
09/15/2028
96.618357
03/15/2003
16.714824
03/15/2016
40.883767
03/15/2029
100.000000
09/15/2003
17.299843
09/15/2016
42.314699
03/15/2004
17.905337
03/15/2017
43.795713
09/15/2004
18.532024
09/15/2017
45.328563
03/15/2005
19.180645
03/15/2018
46.915063
09/15/2005
19.851968
09/15/2018
48.557090
03/15/2006
20.546787
03/15/2019
50.256588
09/15/2006
21.265924
09/15/2019
52.015569
03/15/2007
22.010231
03/15/2020
53.836114
09/15/2007
22.780590
09/15/2020
55.720378
03/15/2008
23.577910
03/15/2021
57.670591
09/15/2008
24.403137
09/15/2021
59.689062
03/15/2009
25.257247
03/15/2022
61.778179
09/15/2009
26.141250
09/15/2022
63.940415
03/15/2010
27.056194
03/15/2023
66.178330
09/15/2010
28.003161
09/15/2023
68.494571
03/15/2011
28.983272
03/15/2024
70.891881
09/15/2011
29.997686
09/15/2024
73.373097
03/15/2012
31.047605
03/15/2025
75.941156
09/15/2012
32.134271
09/15/2025
78.599096
03/15/2013
33.258971
03/15/2026
81.350064
09/15/2013
34.423035
09/15/2026
84.197317

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., as representative (the "Representative") of the underwriters named below (the "Underwriters"), Freddie
Mac has agreed to sell to each of the Underwriters, and each of the Underwriters has severally agreed to purchase, the
principal amount of Debentures set forth opposite its name below.
Underwriters
Principal Amount
EVEREN Securities, Inc.
$100,000,000
Morgan Keegan & Company, Inc.
100,000,000
TOTAL:
$200,000,000
Freddie Mac has been advised by the Representative that the Underwriters propose 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 .225% of the principal amount of the Debentures and that
the Underwriters may allow and such dealers may reallow a concession not in excess of .175% of the principal amount of
the Debentures on sales to certain other dealers. After the initial public offering, the public offering price and such
concessions may be changed by the Underwriters. See "Plan of Distribution" in the Offering Circular.
In connection with this offering, the Underwriters 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 Underwriters 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

4
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.
Neither Freddie Mac nor the Underwriters make 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 Underwriters make any representation that the Underwriters 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 Supplement dated January 29, 1999 to its Information Statement dated March 31, 1998. See
"Capitalization" in the Offering Circular.
2262EVMAR15.DOC
zero.doc