Freddie Mac has priced $2 billion of a new five-year, 4.125% syndicated callable security due Sept. 1, 2009.The issue, CUSIP number 3128X3VA8, was priced at 99.715 to yield 4.189%, or 74.1 basis points more than five-year U.S. Treasury notes. The issue, which is scheduled to settle Sept. 1, is callable at par on Sept. 1, 2005. Bear, Stearns & Co., Goldman Sachs Group, and Morgan Stanley are the joint lead managers for the transaction.

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