Obligation Freddy Mac 0% ( US3134GTS875 ) en USD

Freddy Mac

100 % ⇌

Etas-Unis

US3134GTS875 ( en USD )

05/08/2022 - Obligation échue

Prospectus brochure de l'obligation Freddie Mac US3134GTS875 en USD 0%, échue

1 000 USD

847 500 000 USD

3134GTS87

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.

L'Obligation émise par Freddy Mac ( Etas-Unis ) , en USD, avec le code ISIN US3134GTS875, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 05/08/2022

L'Obligation émise par Freddy Mac ( Etas-Unis ) , en USD, avec le code ISIN US3134GTS875, a été notée NR par l'agence de notation Moody's.

PRICING SUPPLEMENT DATED July 29, 2019
(to the Offering Circular Dated February 14, 2019)
$847,500,000
Freddie Mac
Variable Rate Medium-Term Notes Due August 5, 2022
Issue Date:
August 5, 2019
Maturity Date:
August 5, 2022
Subject to Redemption:
No
Interest Rate:
See "Description of the Medium-Term Notes" herein
Principal Payment:
At maturity
CUSIP Number:
3134GTS87
You should read this Pricing Supplement together with Freddie Mac's Global Debt Facility Offering Circular,
dated February 14, 2019 (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 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
100%
.06%
99.94%
Total
$847,500,000
$508,500
$846,991,500
1.
Plus accrued interest, if any, from August 5, 2019.
2.
See "Distribution Arrangements" in the Offering Circular.
3.
Before deducting expenses payable by Freddie Mac estimated at $1,000.

TD Securities USA LLC
Jefferies & Company, Inc.
Samuel A. Ramirez & Company, Inc.
BNY Mellon Capital Markets, LLC
Citigroup Global Markets Inc.
JPMorgan
Mizuho Securities USA LLC
Nomura Securities International, Inc.
Academy Securities, Inc.
Morgan Stanley
Mischler Financial Group, Inc.

2
DESCRIPTION OF THE MEDIUM-TERM NOTES
Applicable Interest Rate Index:
SOFR
Reset Dates:
Daily; provided that in respect of any Interest Payment Period, the
period beginning one (1) U.S. Government Securities Business Days
prior to an Interest Payment Date shall be a suspension period. During
a suspension period, SOFR for each day during that suspension
period will be SOFR published on the day immediately prior to the
first day of such suspension period.
Spread:
Plus 13 basis points (+0.13 percentage points)
Interest Rate:
SOFR, as adjusted by the applicable Spread above, subject to the
minimum interest rate of the Floor. The Interest Rate will be adjusted
on each Reset Date to reflect SOFR on such Reset Date; provided,
however, that if the rate at which interest accrues on any day declines
to zero or becomes negative, no interest will be payable on the
Medium-Term Notes in respect of that day.
Floor:
0.00%
Day Count Convention:
Actual/360 with no adjustment for period end dates
Payment of Interest:
Quarterly, in arrears, on the 5th day of February, May, August, and
November (each such date, an "Interest Payment Date"),
commencing November 5, 2019
Risk Factors
The Offering Circular and this Pricing Supplement do not describe all of the risks and other ramifications of
an investment in the Medium-Term Notes. An investment in the Medium-Term Notes entails significant risks not
associated with an investment in a conventional fixed rate or floating rate debt security. See "Risk Factors" generally
and "Various Factors Could Adversely Affect the Trading Value and Yield of Your Debt Securities" in the Offering
Circular. Investors should consult their own financial and legal advisors about the risks associated with an investment
in the Medium-Term Notes and the suitability of investing in the Medium-Term Notes in light of their particular
circumstances, and possible scenarios for economic, interest rate and other factors that may affect their investment.
The secondary market for, and the market value of, the Medium-Term Notes will be affected by a number of
factors independent of the creditworthiness of Freddie Mac, including the level and direction of interest rates, the
variable rate of interest payable on the Medium-Term Notes, the anticipated level and potential volatility of SOFR,
the method of calculating SOFR, the time remaining to the maturity of the Medium-Term Notes, the aggregate
principal amount of the Medium-Term Notes and the availability of comparable instruments. The level of SOFR
depends on a number of interrelated factors, including economic, financial and political events, over which Freddie
Mac has no control. The following table, showing the level of the Secured Overnight Funding Rate in effect for the
dates listed below, illustrates the variability of that rate:
3134GTS87

3
Historical Levels of the Secured Overnight Funding Rate
The New York Federal Reserve Bank began to publish the Secured Overnight Funding Rate in April 2018.
Investors should not rely on any historical changes or trends in the Secured Overnight Funding Rate as an indicator
of the future performance of SOFR during the term of the Medium-Term Notes. Fluctuations in the level of the
Secured Overnight Funding Rate make the interest rates that apply to the Medium-Term Notes difficult to predict and
can result in actual interest rates to investors that are lower than anticipated. In addition, historical interest rates are
not necessarily indicative of future interest rates. Fluctuations in interest rates and interest rate trends that have
occurred in the past are not necessarily indicative of fluctuations that may occur in the future, which may be wider or
narrower than those that have occurred historically. No assurance can be given that the Interest Rate will be above
the Floor on any day of any Interest Payment Period during the term of the Medium-Term Notes. We obtained the
information in the graph above from Bloomberg Financial Markets, without independent verification.
Investors 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 variable
rate Medium-Term Notes in light of each investor's particular circumstances. See "Risk Factors - The Debt Securities
May Not Be Suitable For You" and " - Various Factors Could Adversely Affect the Trading Value and Yield of Your
Debt Securities - Variable Rate Debt Securities" in the Offering Circular. Prospective investors also should consult their
own tax and legal advisors as to the tax consequences of holding, owning and disposing of the Medium-Term Notes. See
"Certain United States Federal Tax Consequences" in the Offering Circular.
3134GTS87

4
OFFERING:
1.
Pricing Date:
July 29, 2019
2.
Method of Distribution:
x Principal
Agent
3.
Concession:
N/A
4.
Reallowance:
N/A
5.
Syndication:
Yes:
Underwriters
Underwriting Commitment
TD Securities USA LLC (the "Representative")
$360,000,000
Jefferies & Company, Inc.
120,000,000
Samuel A. Ramirez & Company, Inc.
75,000,000
BNY Mellon Capital Markets, LLC
50,000,000
Citigroup Global Markets Inc.
50,000,000
J.P. Morgan Securities LLC
50,000,000
Mizuho Securities USA LLC
50,000,000
Nomura Securities International, Inc.
50,000,000
Academy Securities, Inc.
25,000,000
Morgan Stanley & Co. LLC
15,000,000
Mischler Financial Group, Inc.
2,500,000
Total..............................................
$847,500,000
3134GTS87