Fannie Mae Announces Security Redemption

WASHINGTON, DC-Fannie Mae will redeem the principal amounts on two securities totaling $205 million on March 29, at 100% of their redemption prices plus interest. Fannie Mae will redeem a $175 million MTN-type security with a CUSIP number of 31364GA66. The security carries a 5.94% interest rate and had been set to mature on March 29, 2004. The company will also redeem a $30 million MTN-type security with a CUSIP number of 31364KKM1, which as an 8.05% interest rate. It had been set to expire on March 20, 2010.

Fannie Mae, the largest non-bank financial services company in the world, operates under a federal charter and is the nation’s largest source of financing for home mortgages. The company, traded on the New York Stock Exchange, is working to shrink the nation’s homeownership gaps through a $2 trillion “American Dream Commitment” to increase homeownership rates and serve 18 million targeted American families by the end of the decade. Since 1968, Fannie Mae has provided $3 trillion of mortgage financing for more than 37 million families.