WASHINGTON, Nov. 16 /PRNewswire-FirstCall/ -- Fannie Mae , today priced $500 million, or 20 million shares with a stated value of $25 per share, non-cumulative, perpetual, fixed-rate preferred stock (CUSIP 313586760) at a dividend rate of 7.625 percent per annum, designated as Series R. Fannie Mae will have the option to redeem all or part of the Series R preferred stock, on or after November 21, 2012.
Lehman Brothers, Inc. and Morgan Stanley are the lead underwriters of this issue. The co-managers for this deal are: Bear, Stearns & Co. Inc., FTN Financial Capital Markets, LLC, Morgan Keegan, RBC Dain Rauscher, Sandler O'Neill & Partners, L.P., and Vining-Sparks IBG, L.P.
Application will be made to list the shares on the New York Stock Exchange under the symbol "FNMprR." The shares are expected to be issued on November 21, 2007.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of Fannie Mae. Nothing in this press release constitutes advice on the merits of buying or selling a particular investment.
Fannie Mae is a shareholder-owned company with a public mission. We exist to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to ensure that mortgage bankers
