| Supplement dated March 09, 2012 |
| To Pricing Supplement dated February 29, 2012 |
| (To Offering Circular dated April 08, 2011) |
Universal Debt Facility
This Supplement supplements the Pricing
Supplement dated February 29, 2012, and relates to the Debt Securities
described below (the "Notes"). You should read it together with the Offering
Circular dated April 08, 2011 (the "Offering Circular"), relating to the
Universal Debt Facility of the Federal National Mortgage Association ("Fannie
Mae"). Unless defined below, capitalized terms have the meanings we gave
to them in the Offering Circular.
The Notes offered by this Supplement,
when issued, will form a single issue with the $50,000,000.00 aggregate
principal amount of such Notes (the "Outstanding Notes") that we issued
in one or more prior transactions. With the exception of the terms set
forth below, the Notes will have the terms set forth in the Pricing Supplement
dated February 29, 2012, a copy of which is attached.
The Notes, together with interest
thereon, are not guaranteed by the United States and do not constitute
a debt or obligation of the United States or of any agency or instrumentality
thereof other than Fannie Mae.
| 1. |
|
Title: Step Rate Notes Due March 21, 2017 |
| 2. |
|
Aggregate Principal Amount: $25,000,000.00 ($75,000,000.00
aggregate principal amount outstanding when combined with the Outstanding
Notes) |
| 3. |
|
Issue Date: March 21, 2012 |
| 1. |
|
Pricing Date: |
|
March 09, 2012 |
| 2. |
|
Method of Distribution: |
|
X Principal |
|
__ Non-underwritten |
| 3. |
|
The following dealers have agreed, jointly and severally,
to purchase all of the Notes: |
| BNP Paribas Securities Corp. |
| Raymond James & Associates, Inc. |
|
a. |
|
Representative(s): |
|
BNP Paribas Securities Corp. |
|
b. |
|
Stabilizing Manager: |
|
BNP Paribas Securities Corp. |
|
X |
|
Fixed Offering Price: 100.00% of principal amount,
plus accrued interest, if any, from March 21, 2012 |
|
__ |
|
Variable Price Offering |
| 5. |
|
Dealer Purchase Price: 99.85% of principal amount,
plus accrued interest, if any, from March 21, 2012 |
| 6. |
|
Proceeds to Fannie Mae: |
|
$24,962,500.00 |
| 1. |
|
Settlement Date: |
|
March 21, 2012 |
|