Freddie Mac has priced $3 billion of five-year Reference Notes due July 15, 2009.The issue (CUSIP 3134A4US1) was priced at 99.499 to yield 4.359%, or 49.5 basis points more than five-year U.S. Treasury notes. The settlement date is June 4. Joint lead managers for the transaction were Citigroup Global Markets Inc., Lehman Brothers, and Morgan Stanley. "Asian demand continues to be strong, representing over 20% of the distribution for this deal," said Louise Herrle, vice president, treasurer, and head of global debt funding at Freddie Mac.

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