Fannie Mae has priced 15 million shares of series Q noncumulative, perpetual fixed-rate preferred stock with a stated value of $25 per share at an annual dividend rate of 6.75%.The government-sponsored enterprise said it has agreed to sell to "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act of 1933) a total of $375 million of the series Q preferred stock (CUSIP: 313586778). Fannie said it will have the option to redeem all or part of the stock on or after Sept. 30, 2010. Goldman, Sachs & Co. and Merrill Lynch & Co. acted as the placement agents for the transaction. Fannie can be found online at http://www.fanniemae.com.
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