Fannie Mae has priced $4 billion of three-year Benchmark Notes with a 2.125% coupon at 99.707.The joint lead managers for the issue (CUSIP 31359MQZ9) were HSBC Securities Inc., J.P. Morgan Securities Inc., and Morgan Stanley & Co. There were nine co-managers and a designated selling group comprised of 11 additional dealers. The issue is due April 15, 2006 and yields 2.223% at a spread of 65.5 basis points over the 5.625% U.S. Treasury due February 15, 2006. Settlement is scheduled for Feb. 28, and coupon payments will be made each April 15 and Oct. 15, beginning in April of 2003. Fannie Mae can be found on the Web at http://www.fanniemae.com.
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