OREANDA-NEWS. Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. The company expects to issue approximately $1.1 billion in K Certificates (K-054 Certificates), which are expected to settle on or about April 20, 2016.

K-054 Pricing

Class

  
Principal/Notional Amount (mm)		   Weighted Average Life (Years)  
Spread (bps)		  

Coupon

  

Yield

  
Dollar Price
A-1   $115.529   5.71   S + 67   2.3000%   1.9064%   $101.9994
A-2   $1,037.104   9.64   S + 80   2.7450%   2.3878%   $102.9928
X1   $1,152.633   9.01   T + 265   1.1811%   4.2970%   $9.0647
X3   $135.186*   9.57   T + 700   1.5991%   8.6920%   $10.5057

*50% of the Class X3 notional size

Details

  • Co-Lead Managers and Joint Bookrunners: Citigroup Global Markets, Inc. and Barclays Capital Inc.
  • Co-Managers: J.P. Morgan Securities LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC
  • Rating Agencies: Fitch Ratings, Inc. and Kroll Bond Rating Agency, Inc.