Amherst Securities LP

Amherst Securities Group Underwrites New Issue Deal for FNMA


5 1/2 Year Step; 1 Year Call
Pricing Date May 3, 2010
Settlement Date May 27, 2010
Structure

5 1/2 Year Step; 1 Year Call

First Call Date May 27, 2011; Quarterly
Maturity Date November 27, 2015
Payment Dates

Every November 27th and May 27th beginning November 2010

First Coupon 2.25%
Coupon Structure

2.25% to May 2012; 3% to May 2013; 4% to May 2014; 5% to May 2015; 6% thereafter

Size $25 million
Issuer Federal National Mortgage Association
CUSIP 3136FMSS4
Currency USD