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

April 29, 2008

Settlement Date May 15, 2008
Structure 15-year step up canary; non-call 3-month
First Call Date

August 15, 2008

Maturity Date May 15, 2023
Payment Dates

Every November 15th and May 15th beginning November 2008

First Coupon 5.00%
Coupon Structure 5.0% to May 2013; 6.0% thereafter
Size $10 million
Issuer Federal National Mortgage Association
CUSIP

3136F9PF4

Currency USD