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Pricing Supplement Dated February 24, 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 "Bonds"). 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 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.
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1. |
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Title: |
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Step Rate Bonds Due March 23, 2028 |
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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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$10,000,000.00 |
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5. |
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Issue Date: |
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March 23, 2016 |
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6. |
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Maturity Date: |
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March 23, 2028 |
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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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March 23, 2017 |
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June 23, 2017 |
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September 23, 2017 |
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December 23, 2017 |
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March 23, 2018 |
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June 23, 2018 |
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September 23, 2018 |
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December 23, 2018 |
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March 23, 2019 |
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June 23, 2019 |
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September 23, 2019 |
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December 23, 2019 |
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March 23, 2020 |
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June 23, 2020 |
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September 23, 2020 |
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December 23, 2020 |
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March 23, 2021 |
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June 23, 2021 |
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September 23, 2021 |
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December 23, 2021 |
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March 23, 2022 |
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June 23, 2022 |
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September 23, 2022 |
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December 23, 2022 |
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March 23, 2023 |
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June 23, 2023 |
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September 23, 2023 |
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December 23, 2023 |
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March 23, 2024 |
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June 23, 2024 |
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September 23, 2024 |
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December 23, 2024 |
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March 23, 2025 |
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June 23, 2025 |
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September 23, 2025 |
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December 23, 2025 |
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March 23, 2026 |
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June 23, 2026 |
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September 23, 2026 |
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December 23, 2026 |
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March 23, 2027 |
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June 23, 2027 |
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September 23, 2027 |
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December 23, 2027 |
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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 23rd day of each March and September |
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c. |
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First Interest Payment Date: |
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September 23, 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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March 23, 2016 |
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March 23, 2019 |
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2.00% |
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March 23, 2019 |
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March 23, 2022 |
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2.50% |
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March 23, 2022 |
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March 23, 2025 |
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3.50% |
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March 23, 2025 |
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March 23, 2028 |
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4.50% |
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Additional Information Relating to the Bonds |
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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 24, 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: 99.36% of principal amount |
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6. |
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Proceeds to Fannie Mae: |
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$9,936,000.00 |
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1. |
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Settlement Date: |
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March 23, 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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