Amherst Securities LP

Amherst Securities Group Underwrites New Issue Deal for FNMA


15 Year Step; 6 Month Call
Pricing Date December 8, 2009
Settlement Date December 30, 2009
Structure

15 Year Step; 6 Month Call

First Call Date June 30, 2010; Quarterly Calls
Maturity Date December 30, 2024
Payment Dates Every June 30th and December 30th beginning June 2010
First Coupon 3%
Coupon Structure

3% to December 2010; resets annually at 3.5%, 4%, 5%, 6%, 7%

Size $50 million
Issuer Federal National Mortgage Association
CUSIP 3136FJZS3
Currency USD