This Pricing Supplement relates to the Debt Securities described below (the "Bonds"). You should read it together with the Offering Circular dated May 14, 2013 (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 Bonds, and 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.

Certain Securities Terms

1.

Title:

3.50% Bonds Due June 20, 2033

2.

Form:

Fed Book-Entry Securities

3.

Specified Payment Currency

a.

Interest:

U.S. dollars

b.

Principal:

U.S. dollars

4.

Aggregate Original Principal Amount:

$50,000,000.00

5.

Issue Date:

June 20, 2013

6.

Maturity Date:

June 20, 2033

Amount Payable on the Maturity Date:

100.00% of principal amount

7.

Subject to Redemption Prior to Maturity Date

__

No

X

Yes; in whole or in part, at our option, on the following dates at a redemption price of 100% of the principal amount redeemed, plus accrued interest thereon to the date of redemption.

June 20, 2014 September 20, 2014 December 20, 2014 March 20, 2015 June 20, 2015 September 20, 2015 December 20, 2015 March 20, 2016 June 20, 2016 September 20, 2016 December 20, 2016 March 20, 2017 June 20, 2017 September 20, 2017 December 20, 2017 March 20, 2018 June 20, 2018 September 20, 2018 December 20, 2018 March 20, 2019 June 20, 2019 September 20, 2019 December 20, 2019 March 20, 2020 June 20, 2020 September 20, 2020 December 20, 2020 March 20, 2021 June 20, 2021 September 20, 2021 December 20, 2021 March 20, 2022 June 20, 2022 September 20, 2022 December 20, 2022 March 20, 2023 June 20, 2023 September 20, 2023 December 20, 2023 March 20, 2024 June 20, 2024 September 20, 2024 December 20, 2024 March 20, 2025 June 20, 2025 September 20, 2025 December 20, 2025 March 20, 2026 June 20, 2026 September 20, 2026 December 20, 2026 March 20, 2027 June 20, 2027 September 20, 2027 December 20, 2027 March 20, 2028 June 20, 2028 September 20, 2028 December 20, 2028 March 20, 2029 June 20, 2029 September 20, 2029 December 20, 2029 March 20, 2030 June 20, 2030 September 20, 2030 December 20, 2030 March 20, 2031 June 20, 2031 September 20, 2031 December 20, 2031 March 20, 2032 June 20, 2032 September 20, 2032 December 20, 2032 March 20, 2033

8.

Interest Category:

Fixed Rate Securities

9.

Interest

a.

Frequency of Interest Payments:

semiannually

b.

Interest Payment Dates:

the 20th day of each June and December

c.

First Interest Payment Date:

December 20, 2013

d.

Interest rate per annum:

3.50%

Additional Information Relating to the Bonds

1.

Identification Number(s)

a.

CUSIP:

3136G1NG0

b.

ISIN:

N/A

c.

Common Code:

N/A

2.

Listing Application

	X No
	__ Yes

3.

Eligibility for Stripping on the Issue Date

	X No
	__ Yes

___ Minimum Principal Amount: _____________

Offering

1.

Pricing Date:

May 23, 2013

2.

Method of Distribution:

X Principal

__ Non-underwritten

3.

The following dealers have agreed, jointly and severally, to purchase all of the Bonds:

Morgan Stanley & Co. LLC

Hapoalim Securities USA

a.

Representative(s):

Morgan Stanley & Co. LLC

b.

Stabilizing Manager:

Morgan Stanley & Co. LLC

4.

Offering Price:

X

Fixed Offering Price: 100.00% of principal amount, plus accrued interest, if any, from the Settlement Date

__

Variable Price Offering

5.

Dealer Purchase Price: 99.55% of principal amount

a.

Concession:

N/A

b.

Reallowance:

N/A

6.

Proceeds to Fannie Mae:

$49,775,000.00

Settlement

1.

Settlement Date:

June 20, 2013

2.

Settlement Basis:

delivery versus payment

3.

Settlement Clearing System:

U.S. Federal Reserve Banks