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

February 8, 2008

Settlement Date February 27, 2008
Structure 15-year; non-call 3-month
First Call Date

May 27, 2008 and quarterly thereafter

Maturity Date February 27, 2023
Payment Dates

Every August 27th and February 27th beginning August 2008

First Coupon 4.0%
Coupon Structure 4.0% to February 2010; 6.5% thereafter
Size $15 million
Issuer Federal National Mortgage Association
CUSIP 3136F84M4
Currency USD