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Pricing Supplement Dated February 11, 2016 |
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(To Offering Circular dated December 2, 2015) |
 Universal Debt Facility
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This Pricing Supplement relates to the Debt Securities described below (the "Notes"). You should read it together with the Offering Circular dated December 2, 2015 (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. |
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The Notes, 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.
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1. |
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Title: |
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Step Rate Notes Due February 26, 2026 |
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2. |
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Form: |
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Fed Book-Entry Securities |
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3. |
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Specified Payment Currency |
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a. |
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Interest: |
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U.S. dollars |
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b. |
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Principal: |
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U.S. dollars |
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4. |
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Aggregate Original Principal Amount: |
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$20,000,000.00 |
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5. |
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Issue Date: |
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February 26, 2016 |
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6. |
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Maturity Date: |
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February 26, 2026 |
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Amount Payable on the Maturity Date: |
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100.00% of principal amount |
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7. |
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Subject to Redemption Prior to Maturity Date |
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X |
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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. |
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August 26, 2016 |
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November 26, 2016 |
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February 26, 2017 |
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May 26, 2017 |
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August 26, 2017 |
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November 26, 2017 |
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February 26, 2018 |
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May 26, 2018 |
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August 26, 2018 |
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November 26, 2018 |
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February 26, 2019 |
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May 26, 2019 |
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August 26, 2019 |
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November 26, 2019 |
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February 26, 2020 |
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May 26, 2020 |
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August 26, 2020 |
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November 26, 2020 |
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February 26, 2021 |
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May 26, 2021 |
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August 26, 2021 |
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November 26, 2021 |
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February 26, 2022 |
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May 26, 2022 |
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August 26, 2022 |
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November 26, 2022 |
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February 26, 2023 |
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May 26, 2023 |
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August 26, 2023 |
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November 26, 2023 |
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February 26, 2024 |
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May 26, 2024 |
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August 26, 2024 |
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November 26, 2024 |
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February 26, 2025 |
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May 26, 2025 |
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August 26, 2025 |
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November 26, 2025 |
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8. |
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Interest Category: |
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Step Rate Securities |
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a. |
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Frequency of Interest Payments: |
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semiannually |
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b. |
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Interest Payment Dates: |
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the 26th day of each February and August |
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c. |
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First Interest Payment Date: |
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August 26, 2016 |
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d |
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The interest rate on the outstanding principal amount will be as follows: |
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from and including |
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to but excluding |
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interest rate per annum |
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February 26, 2016 |
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February 26, 2018 |
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1.50% |
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February 26, 2018 |
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February 26, 2020 |
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2.25% |
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February 26, 2020 |
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February 26, 2022 |
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2.75% |
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February 26, 2022 |
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February 26, 2024 |
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3.25% |
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February 26, 2024 |
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February 26, 2026 |
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4.50% |
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Additional Information Relating to the Notes |
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1. |
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Identification Number(s) |
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3. |
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Eligibility for Stripping on the Issue Date |
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___ Minimum Principal Amount: _____________ |
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1. |
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Pricing Date: |
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February 11, 2016 |
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2. |
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Method of Distribution: |
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X Principal |
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__ Non-underwritten |
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3. |
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Dealer: |
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Multi-Bank Securities, Inc. |
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X |
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Fixed Offering Price: 100.00% of principal amount, plus accrued interest, if any, from the Settlement Date |
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__ |
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Variable Price Offering |
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5. |
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Dealer Purchase Price: 99.46% of principal amount |
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6. |
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Proceeds to Fannie Mae: |
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$19,892,000.00 |
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1. |
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Settlement Date: |
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February 26, 2016 |
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2. |
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Settlement Basis: |
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delivery versus payment |
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3. |
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Settlement Clearing System: |
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U.S. Federal Reserve Banks |
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