Amherst Securities LP
Amherst Securities Group Underwrites New Issue Deal for FNMA
10-Year; non-call 3-Month
Pricing Date

January 23, 2008

Settlement Date February 5, 2008
Structure 10-year; non-call 3-month
First Call Date

May 5, 2008 and quarterly thereafter

Maturity Date February 5, 2018
Payment Dates

Every August 5th and February 5th beginning August 2008

First Coupon 4.00%
Coupon Structure 4.0% to February 2010, 4.5% to February 2012; 5.0% to February 2014; 5.5% to February 2016; 6.0% thereafter
Size $15 million
Issuer Federal National Mortgage Corporation
CUSIP 3136F8N68
Currency USD