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

January 23, 2008

Settlement Date February 6, 2008
Structure 15-year; non-call 3-month
First Call Date

May 6, 2008 and quarterly thereafter

Maturity Date February 6, 2023
Payment Dates

Every August 6th and February 6th beginning August 2008

First Coupon 4.50%
Coupon Structure 4.5% to February 2011, 5.0% to February 2014; 5.5% to February 2017; 6.0% to February 2020; 7.0% thereafter
Size $20 million
Issuer Federal National Mortgage Corporation
CUSIP 3136F8N50
Currency USD