Obligation Freddy Mac 0% ( US3134G1H496 ) en USD

Freddy Mac

100 % ⇌

Etas-Unis

US3134G1H496 ( en USD )

0%

21/12/2040

Prospectus brochure de l'obligation Freddie Mac US3134G1H496 en USD 0%, échéance 21/12/2040

1 000 USD

100 000 000 USD

3134G1H49

NR

NR

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 US3134G1H496, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 21/12/2040

L'Obligation émise par Freddy Mac ( Etas-Unis ) , en USD, avec le code ISIN US3134G1H496, a été notée NR par l'agence de notation Moody's.

L'Obligation émise par Freddy Mac ( Etas-Unis ) , en USD, avec le code ISIN US3134G1H496, a été notée NR par l'agence de notation Standard & Poor's ( S&P ).

PRICING SUPPLEMENT DATED December 2, 2010
(to Offering Circular Dated February 24, 2010)

$100,000,000

Freddie Mac

Zero Coupon Medium-Term Notes Due December 21, 2040
Redeemable periodically, beginning December 21, 2011

Issue Date:
December 21, 2010
Maturity Date:
December 21, 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):
Annually, on December 21, commencing December 21, 2011
Interest Rate:
None
Principal Payment:
At maturity, or upon redemption
CUSIP Number:
3134G1H49

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
21.544522%
.07%
21.474522%
Total
$21,544,522
$70,000
$21,474,522

(1)
Plus return of discount, if any, from December 21, 2010.
(2)
See "Distribution Arrangements" in the Offering Circular.
(3)
Before deducting expenses payable by Freddie Mac estimated at $1,000.

J.P.Morgan

2

OFFERING:

1. Pricing
Date:
December 2, 2010
2.
Method of Distribution:
x Principal
Agent
3. Concession:
N/A
4. Reallowance:
N/A
5.
Underwriter:
J.P. Morgan Securities LLC
6. Underwriter's
Counsel:
Sidley Austin LLP

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.

Call Price Schedule

Redemption Date
Call Price Percentage
Redemption Date
Call Price Percentage
12/21/2011 22.675609
12/21/2027 51.417699
12/21/2012 23.866079
12/21/2028 54.117129
12/21/2013 25.119048
12/21/2029 56.958278
12/21/2014 26.437798
12/21/2030 59.948588
12/21/2015 27.825783
12/21/2031 63.095888
12/21/2016 29.286636
12/21/2032 66.408423
12/21/2017 30.824185
12/21/2033 69.894865
12/21/2018 32.442454
12/21/2034 73.564345
12/21/2019 34.145683
12/21/2035 77.426473
12/21/2020 35.938331
12/21/2036 81.491363
12/21/2021 37.825094
12/21/2037 85.769660
12/21/2022 39.810911
12/21/2038 90.272567
12/21/2023 41.900984
12/21/2039 95.011876
12/21/2024 44.100786
12/21/2040* 100.000000
12/21/2025 46.416077 *Maturity Date
12/21/2026 48.852921
19179-3134G1H49

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, 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.

19179-3134G1H49