OÅering Circular Supplement $2,533,668,007 (To OÅering Circular Dated March 1, 2002) Freddie Mac Multiclass CertiÑcates, Series 2483 V OÅered Classes: REMIC Classes shown below, Call Class shown on page S-3 and MACR Classes shown on Appendix A Underlying Assets: Groups 1, 4 and 7: Freddie Mac REMIC CertiÑcates Groups 2 and 6: Freddie Mac PCs Groups 3 and 5: Freddie Mac Stripped Giant CertiÑcates Payment Dates: Monthly beginning in September 2002 Call Class: The Holder of the Call Class may direct Freddie Mac to redeem the Guaranteed Maturity Class on its Final Payment Date and acquire the Underlying REMIC Class, as described under Terms Sheet Ì Call Class Tax Status: Double-Tier REMIC and a separate Single-Tier REMIC for the Guaranteed Maturity Class Form of Classes: Regular and MACR Classes: Book-entry on Fed System Residual and Call Classes: CertiÑcated OÅering Terms: The underwriter named below is oÅering the Classes in negotiated transactions at varying prices Closing Date: August 30, 2002 REMIC Original Principal Class Interest CUSIP Final Payment REMIC Original Principal Class Interest CUSIP Final Payment Classes Balance Type(1) Coupon Type(1) Number Date Classes Balance Type(1) Coupon Type(1) Number Date Group 1 MF ÏÏÏÏÏÏÏÏÏ $ 4,003,906 SC/SEQ (2) FLT/DLY 31392TDH7 November 15, 2031 AI ÏÏÏÏÏÏÏÏÏ $ 28,502,816 SC/NTL(TAC) 6.5% FIX/IO 31392T 4 C 8 February 15, 2030 MG ÏÏÏÏÏÏÏÏÏ 3,000,000 SC/SEQ 6.25% FIX 31392T D J 3 November 15, 2031 MP ÏÏÏÏÏÏÏÏÏ 185,268,310 SC/GMC/TAC 5.5 FIX 31392T 4 P 9 June 15, 2014 MHÏÏÏÏÏÏÏÏÏ 1,500,000 SC/SEQ 6.0 FIX 31392TDK0 November 15, 2031 MX(3) ÏÏÏÏÏÏ 185,268,310 SC/TAC 5.5 FIX 31392T 4 R 5 February 15, 2030 MJ ÏÏÏÏÏÏÏÏÏ 1,500,000 SC/SEQ 6.5 FIX 31392TDL8 November 15, 2031 PA ÏÏÏÏÏÏÏÏÏ 349,987,000 SC/PAC 6.5 FIX 31392T 4 G 9 February 15, 2030 MS ÏÏÏÏÏÏÏÏÏ 1,081,054 SC/SEQ (2) INV/DLY 31392TDV6 November 15, 2031 ZM ÏÏÏÏÏÏÏÏÏ 6,664,093 SC/SUP 6.5 FIX/Z 31392T 6 L 6 February 15, 2030 MT ÏÏÏÏÏÏÏÏÏ 40,040 SC/SEQ (2) INV/DLY 31392TDW4 November 15, 2031 ZN ÏÏÏÏÏÏÏÏÏ 13,344,000 SC/SUP 6.5 FIX/Z 31392T 6 A 0 February 15, 2030 OM ÏÏÏÏÏÏÏÏÏ 14,090,929 SC/PT 0.0 PO 31392T D 5 3 November 15, 2031 SG ÏÏÏÏÏÏÏÏÏ 2,578,124 SC/SEQ (2) INV/DLY 31392TDE4 November 15, 2031 Group 2 DA ÏÏÏÏÏÏÏÏÏ 130,449,000 PAC 5.5 FIX 31392T 3 Z 8 June 15, 2008 Group 5 DB ÏÏÏÏÏÏÏÏÏ 147,476,000 PAC 5.5 FIX 31392T 4 A 2 September 15, 2012 FB ÏÏÏÏÏÏÏÏÏ 57,684,932 PT (2) FLT 31392T 4 X 2 March 15, 2032 DC ÏÏÏÏÏÏÏÏÏ 80,193,000 PAC 5.5 FIX 31392T 4 E 4 July 15, 2014 SB ÏÏÏÏÏÏÏÏÏ 57,684,932 NTL(PT) (2) INV/IO 31392T 6 C 6 March 15, 2032 DE ÏÏÏÏÏÏÏÏÏ 92,995,000 PAC 5.5 FIX 31392T 4 B 0 April 15, 2016 SL ÏÏÏÏÏÏÏÏÏ 57,684,932 NTL(PT) (2) INV/IO 31392T 6 E 2 March 15, 2032 DG ÏÏÏÏÏÏÏÏÏ 80,145,000 PAC 5.5 FIX 31392T 4 D 6 August 15, 2017 ST ÏÏÏÏÏÏÏÏÏ 57,684,932 NTL(PT) (2) INV/IO 31392T 6 D 4 March 15, 2032 H ÏÏÏÏÏÏÏÏÏ 126,392,000 NSJ/TAC 5.5 FIX 31392T5H6 August 15, 2017 ZE ÏÏÏÏÏÏÏÏÏ 42,000,000 NSJ/SUP 5.5 FIX/Z 31392T6M4 August 15, 2017 Group 6 ZG ÏÏÏÏÏÏÏÏÏ 350,000 NSJ/SUP 5.5 FIX/Z 31392T6N2 August 15, 2017 ED ÏÏÏÏÏÏÏÏÏ 110,580,000 NSJ/SCH 6.0 FIX 31392TDA2 August 15, 2032 EG ÏÏÏÏÏÏÏÏÏ 163,557,000 NSJ/SUP 6.0 FIX 31392TDS3 August 15, 2032 Group 3 G ÏÏÏÏÏÏÏÏÏ 506,363,000 PAC 7.0 FIX 31392TDM6 August 15, 2032 HA ÏÏÏÏÏÏÏÏÏ 141,242,121 PAC 4.5 FIX 31392T 5 C 7 August 15, 2032 IE ÏÏÏÏÏÏÏÏÏ 49,091,000 NTL(SUP) 7.0 FIX/IO 31392TDC8 August 15, 2032 HB ÏÏÏÏÏÏÏÏÏ 58,424,546 SUP 4.5 FIX 31392T 4 Z 7 August 15, 2032 ZT ÏÏÏÏÏÏÏÏÏ 69,500,000 NSJ/SUP 6.0 FIX/Z 31392TDD6 August 15, 2032 HZ ÏÏÏÏÏÏÏÏÏ 333,333 SEQ 4.5 FIX/Z 31392T 5 Z 6 August 15, 2032 Group 4 Group 7 FG ÏÏÏÏÏÏÏÏÏ 11,718,749 SC/SEQ (2) FLT/DLY 31392TDN4 November 15, 2031 B ÏÏÏÏÏÏÏÏÏ 61,655,846 SC/NSJ/SJ/PT 6.5 FIX 31392UAF1 November 15, 2031 GS ÏÏÏÏÏÏÏÏÏ 703,127 SC/SEQ (2) INV/DLY 31392TDB0 November 15, 2031 PO ÏÏÏÏÏÏÏÏÏ 11,210,154 SC/NSJ/SJ/PT 0.0 PO 31392UAG9 November 15, 2031 MA ÏÏÏÏÏÏÏÏÏ 22,707,000 SC/SEQ 6.25 FIX 31392T D 6 1 November 15, 2031 MB ÏÏÏÏÏÏÏÏÏ 13,842,000 SC/SEQ 6.25 FIX 31392T D 7 9 November 15, 2031 Residual MC ÏÏÏÏÏÏÏÏÏ 18,088,743 SC/SEQ 6.25 FIX 31392T D 8 7 November 15, 2031 R ÏÏÏÏÏÏÏÏÏ 0 NPR 0.0 NPR 31392T 4 K 0 August 15, 2032 MD ÏÏÏÏÏÏÏÏÏ 1,750,000 SC/SEQ 6.25 FIX 31392T D 9 5 November 15, 2031 RA ÏÏÏÏÏÏÏÏÏ 0 NPR 0.0 NPR 31392T 4 J 3 June 15, 2014 ME ÏÏÏÏÏÏÏÏÏ 1,250,000 SC/SEQ 6.25 FIX 31392TDG9 November 15, 2031 RS ÏÏÏÏÏÏÏÏÏ 0 NPR 0.0 NPR 31392T 6 B 8 August 15, 2032 (1) See Appendix II to the OÅering Circular. (2) See Terms Sheet Ì Interest. (3) MX backs the Guaranteed Maturity Class and will not be oÅered initially. See Terms Sheet Ì Guaranteed Maturity Class. The CertiÑcates may not be suitable investments for you. You should consider carefully the risks of investing in them. Certain Risk Considerations on page S-2 highlights some of these risks. You should purchase CertiÑcates only if you have read and understood this Supplement, the attached OÅering Circular and the documents listed under Available Information. We guarantee principal and interest payments on the CertiÑcates and the proceeds due on the Call Class upon exercise of the Call Right. These payments and proceeds are not guaranteed by and are not debts or obligations of the United States or any federal agency or instrumentality other than Freddie Mac. The CertiÑcates are not tax-exempt. Because of applicable securities law exemptions, we have not registered the CertiÑcates with any federal or state securities commission. No securities commission has reviewed this Supplement. Bear, Stearns & Co. Inc. July 2, 2002
72
Embed
Multiclass CertiÑcates, Series 2483 · OÅering Circular Supplement $2,533,668,007 (To OÅering Circular Dated March 1, 2002) Freddie Mac Multiclass CertiÑcates, Series 2483 V OÅered
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
OÅering Circular Supplement $2,533,668,007(To OÅering CircularDated March 1, 2002)
Freddie MacMulticlass CertiÑcates, Series 2483 V
OÅered Classes: REMIC Classes shown below, Call Class shown on page S-3 and MACR Classes shown on Appendix A
Underlying Assets: Groups 1, 4 and 7: Freddie Mac REMIC CertiÑcatesGroups 2 and 6: Freddie Mac PCsGroups 3 and 5: Freddie Mac Stripped Giant CertiÑcates
Payment Dates: Monthly beginning in September 2002
Call Class: The Holder of the Call Class may direct Freddie Mac to redeem the Guaranteed Maturity Class on its FinalPayment Date and acquire the Underlying REMIC Class, as described under Terms Sheet Ì Call Class
Tax Status: Double-Tier REMIC and a separate Single-Tier REMIC for the Guaranteed Maturity Class
Form of Classes: Regular and MACR Classes: Book-entry on Fed SystemResidual and Call Classes: CertiÑcated
OÅering Terms: The underwriter named below is oÅering the Classes in negotiated transactions at varying prices
Closing Date: August 30, 2002
REMIC Original Principal Class Interest CUSIP Final Payment REMIC Original Principal Class Interest CUSIP Final PaymentClasses Balance Type(1) Coupon Type(1) Number Date Classes Balance Type(1) Coupon Type(1) Number Date
Group 1 MF ÏÏÏÏÏÏÏÏÏ $ 4,003,906 SC/SEQ (2) FLT/DLY 31392TDH7 November 15, 2031AI ÏÏÏÏÏÏÏÏÏ $ 28,502,816 SC/NTL(TAC) 6.5% FIX/IO 31392T 4 C 8 February 15, 2030 MGÏÏÏÏÏÏÏÏÏ 3,000,000 SC/SEQ 6.25% FIX 31392T D J 3 November 15, 2031MP ÏÏÏÏÏÏÏÏÏ 185,268,310 SC/GMC/TAC 5.5 FIX 31392T 4 P 9 June 15, 2014 MHÏÏÏÏÏÏÏÏÏ 1,500,000 SC/SEQ 6.0 FIX 31392TDK0 November 15, 2031MX(3)ÏÏÏÏÏÏ 185,268,310 SC/TAC 5.5 FIX 31392T 4 R 5 February 15, 2030 MJ ÏÏÏÏÏÏÏÏÏ 1,500,000 SC/SEQ 6.5 FIX 31392TDL8 November 15, 2031PA ÏÏÏÏÏÏÏÏÏ 349,987,000 SC/PAC 6.5 FIX 31392T4G9 February 15, 2030 MS ÏÏÏÏÏÏÏÏÏ 1,081,054 SC/SEQ (2) INV/DLY 31392TDV6 November 15, 2031ZM ÏÏÏÏÏÏÏÏÏ 6,664,093 SC/SUP 6.5 FIX/Z 31392T 6 L 6 February 15, 2030 MT ÏÏÏÏÏÏÏÏÏ 40,040 SC/SEQ (2) INV/DLY 31392TDW4 November 15, 2031ZN ÏÏÏÏÏÏÏÏÏ 13,344,000 SC/SUP 6.5 FIX/Z 31392T 6A0 February 15, 2030 OMÏÏÏÏÏÏÏÏÏ 14,090,929 SC/PT 0.0 PO 31392TD5 3 November 15, 2031
SG ÏÏÏÏÏÏÏÏÏ 2,578,124 SC/SEQ (2) INV/DLY 31392TDE4 November 15, 2031Group 2DA ÏÏÏÏÏÏÏÏÏ 130,449,000 PAC 5.5 FIX 31392T 3 Z 8 June 15, 2008 Group 5DB ÏÏÏÏÏÏÏÏÏ 147,476,000 PAC 5.5 FIX 31392T 4A2 September 15, 2012 FB ÏÏÏÏÏÏÏÏÏ 57,684,932 PT (2) FLT 31392T 4X2 March 15, 2032DC ÏÏÏÏÏÏÏÏÏ 80,193,000 PAC 5.5 FIX 31392T 4 E 4 July 15, 2014 SB ÏÏÏÏÏÏÏÏÏ 57,684,932 NTL(PT) (2) INV/IO 31392T 6 C 6 March 15, 2032DE ÏÏÏÏÏÏÏÏÏ 92,995,000 PAC 5.5 FIX 31392T 4 B 0 April 15, 2016 SL ÏÏÏÏÏÏÏÏÏ 57,684,932 NTL(PT) (2) INV/IO 31392T 6 E 2 March 15, 2032DG ÏÏÏÏÏÏÏÏÏ 80,145,000 PAC 5.5 FIX 31392T 4D6 August 15, 2017 ST ÏÏÏÏÏÏÏÏÏ 57,684,932 NTL(PT) (2) INV/IO 31392T 6D4 March 15, 2032H ÏÏÏÏÏÏÏÏÏ 126,392,000 NSJ/TAC 5.5 FIX 31392T5H6 August 15, 2017ZE ÏÏÏÏÏÏÏÏÏ 42,000,000 NSJ/SUP 5.5 FIX/Z 31392T6M4 August 15, 2017 Group 6ZG ÏÏÏÏÏÏÏÏÏ 350,000 NSJ/SUP 5.5 FIX/Z 31392T6N2 August 15, 2017 ED ÏÏÏÏÏÏÏÏÏ 110,580,000 NSJ/SCH 6.0 FIX 31392TDA2 August 15, 2032
EG ÏÏÏÏÏÏÏÏÏ 163,557,000 NSJ/SUP 6.0 FIX 31392TDS3 August 15, 2032Group 3G ÏÏÏÏÏÏÏÏÏ 506,363,000 PAC 7.0 FIX 31392TDM6 August 15, 2032HA ÏÏÏÏÏÏÏÏÏ 141,242,121 PAC 4.5 FIX 31392T 5 C 7 August 15, 2032IE ÏÏÏÏÏÏÏÏÏ 49,091,000 NTL(SUP) 7.0 FIX/IO 31392TDC8 August 15, 2032HB ÏÏÏÏÏÏÏÏÏ 58,424,546 SUP 4.5 FIX 31392T 4 Z 7 August 15, 2032ZT ÏÏÏÏÏÏÏÏÏ 69,500,000 NSJ/SUP 6.0 FIX/Z 31392TDD6 August 15, 2032HZ ÏÏÏÏÏÏÏÏÏ 333,333 SEQ 4.5 FIX/Z 31392T 5 Z 6 August 15, 2032
Group 4 Group 7FG ÏÏÏÏÏÏÏÏÏ 11,718,749 SC/SEQ (2) FLT/DLY 31392TDN4 November 15, 2031 B ÏÏÏÏÏÏÏÏÏ 61,655,846 SC/NSJ/SJ/PT 6.5 FIX 31392UAF1 November 15, 2031GS ÏÏÏÏÏÏÏÏÏ 703,127 SC/SEQ (2) INV/DLY 31392TDB0 November 15, 2031 PO ÏÏÏÏÏÏÏÏÏ 11,210,154 SC/NSJ/SJ/PT 0.0 PO 31392UAG9 November 15, 2031MAÏÏÏÏÏÏÏÏÏ 22,707,000 SC/SEQ 6.25 FIX 31392TD6 1 November 15, 2031MB ÏÏÏÏÏÏÏÏÏ 13,842,000 SC/SEQ 6.25 FIX 31392TD7 9 November 15, 2031 ResidualMC ÏÏÏÏÏÏÏÏÏ 18,088,743 SC/SEQ 6.25 FIX 31392TD8 7 November 15, 2031 R ÏÏÏÏÏÏÏÏÏ 0 NPR 0.0 NPR 31392T 4K0 August 15, 2032MDÏÏÏÏÏÏÏÏÏ 1,750,000 SC/SEQ 6.25 FIX 31392TD9 5 November 15, 2031 RA ÏÏÏÏÏÏÏÏÏ 0 NPR 0.0 NPR 31392T 4 J 3 June 15, 2014ME ÏÏÏÏÏÏÏÏÏ 1,250,000 SC/SEQ 6.25 FIX 31392TDG9 November 15, 2031 RS ÏÏÏÏÏÏÏÏÏ 0 NPR 0.0 NPR 31392T 6 B 8 August 15, 2032
(1) See Appendix II to the OÅering Circular.(2) See Terms Sheet Ì Interest.(3) MX backs the Guaranteed Maturity Class and will not be oÅered initially. See Terms Sheet Ì Guaranteed Maturity Class.
The CertiÑcates may not be suitable investments for you. You should consider carefully the risks of investing in them. Certain RiskConsiderations on page S-2 highlights some of these risks.
You should purchase CertiÑcates only if you have read and understood this Supplement, the attached OÅering Circular and thedocuments listed under Available Information.
We guarantee principal and interest payments on the CertiÑcates and the proceeds due on the Call Class upon exercise of the CallRight. These payments and proceeds are not guaranteed by and are not debts or obligations of the United States or any federal agencyor instrumentality other than Freddie Mac. The CertiÑcates are not tax-exempt. Because of applicable securities law exemptions, wehave not registered the CertiÑcates with any federal or state securities commission. No securities commission has reviewed thisSupplement.
Bear, Stearns & Co. Inc.
July 2, 2002
CERTAIN RISK CONSIDERATIONS
Although we guarantee the payments on the CertiÑcates, and so bear the associated credit risk,as an investor you will bear the other risks of owning mortgage securities. This section highlightssome of these risks. You should also read Risk Factors and Prepayment, Yield and SuitabilityConsiderations in the OÅering Circular for further discussions of these risks.
The CertiÑcates May Not be Suitable Investments for You. The CertiÑcates are complexsecurities. You should not purchase CertiÑcates unless you are able to understand and bear theassociated prepayment, interest rate, yield and market risks.
In particular, the Interest Only, Principal Only, Inverse Floating Rate, Support, Sticky Jump,Non-Sticky Jump, Accrual, Call and Residual Classes have special risks and are not suitable for allinvestors. This is also the case with the Group 4 and 7 Classes, which are backed by previouslyissued Jump Classes.
Prepayments Can Reduce Your Yield. The yield on your CertiÑcates could be lower than youexpect if:
‚ You buy your CertiÑcates at a premium over their principal amount and principalpayments are faster than you expect.
‚ You buy your CertiÑcates at a discount to their principal amount and principalpayments are slower than you expect. This is especially true for a Principal Only Class.
If you buy an Interest Only Class and prepayments are fast, you may not even recover yourinvestment.
LIBOR Levels Can Reduce Your Yield if You Own a Floating Rate or Inverse Floating RateClass. The yield on your CertiÑcates could be lower than you expect if:
‚ You buy a Floating Rate Class and LIBOR levels are lower than you expect.‚ You buy an Inverse Floating Rate Class and LIBOR levels are higher than you expect.
If you buy an Interest Only Inverse Floating Rate Class, you may not even recover your investmentif LIBOR levels are high or prepayments are fast.
The CertiÑcates are Subject to Market Risks. You will bear all of the market risks of yourinvestment. The market value of your CertiÑcates will vary over time, primarily in response tochanges in prevailing interest rates. If you sell your CertiÑcates when their market value is low, youmay experience signiÑcant losses.
‚ Secondary Market. The underwriter named on the front cover (the ""Underwriter'')intends to make a market for the purchase and sale of the CertiÑcates after they areissued, but has no obligation to do so. A secondary market may not develop. Even if onedoes develop, it may not be liquid enough to allow you to sell your CertiÑcates easily orat your desired price.
‚ Market Value of Call Class. The value of the Call Class will depend primarily on themarket value of the Underlying REMIC Class (which will depend on prevailing interestrates and other market and economic conditions), market expectations about its futurevalue, and the costs associated with any exercise of the Call Right. If you own the CallClass, you should consider the risk that you may lose all of your initial investment.
Our Multiclass CertiÑcates OÅering Circular dated March 1, 2002 (the ""OÅering Circular''),attached to this Supplement, deÑnes many of the terms we use in this Supplement.
S-2
TERMS SHEET
This Terms Sheet contains selected information about this Series. You should refer to the
remainder of this Supplement for further information.
In this Supplement, we refer to Classes only by their letter designations. For example, ""R''
refers to the R Class of this Series.
Guaranteed Maturity Class
The Guaranteed Maturity Class shown on the front cover represents an interest in a
""Guaranteed Maturity REMIC Pool'' that holds a single Class of Freddie Mac Callable Pass-
Through CertiÑcates of this Series (the ""Callable Class''). This Callable Class will not be oÅered
for sale. The Callable Class will represent an interest in a callable pass-through pool (the ""Callable
Pool'') that includes a single REMIC Class (the ""Underlying REMIC Class'') of this Series. The
Callable Pool will also issue a ""Call Class'' as shown below.
CUSIP Underlying GuaranteedCall Class Number REMIC Class Callable Class Maturity Class Final Payment Date
M1 31392T4Q7 MX MY MP June 15, 2014
On each Payment Date while the Guaranteed Maturity Class is outstanding, its Holders will
receive the principal payments made on the same Payment Date on the Underlying REMIC Class.
The Guaranteed Maturity Class will bear interest on each Payment Date at its Class Coupon.
On its Final Payment Date, the Holders of the Guaranteed Maturity Class, if outstanding, will
be entitled to receive the outstanding principal balance of their CertiÑcates plus interest at the
applicable Class Coupon accrued during the related Accrual Period, even if the Underlying REMIC
Class has not retired.
See General Information Ì Structure of Transaction.
Call Class
If you own the Call Class, you will not receive any payments of principal or interest. There can
be only one Holder at a time of the Call Class. If you are the Holder of the Call Class, you will have
the right (the ""Call Right''):
1. To direct Freddie Mac to redeem the Callable and Guaranteed Maturity Classes shown in
the table above on their Final Payment Date.
2. To exchange the Call Class for the Underlying REMIC Class.
You must pay a Call Fee and a Call Payment to exercise the Call Right. Exhibit I explains the
procedures for exercising the Call Right.
Interest
The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover and
Appendix A.
OJ, OL, OM and PO are Principal Only Classes and do not bear interest.
S-3
The Floating Rate and Inverse Floating Rate Classes bear interest as shown in the following
table. The initial Class Coupons apply only to the Ñrst Accrual Period. We determine LIBOR using
the BBA Method.
Class Coupon Subject toInitial ClassClass Coupon Class Coupon Formula Minimum Rate Maximum Rate
* The EÅective Rate for these Classes diÅers from their Structuring Rate.** The EÅective Range for this Scheduled Class is signiÑcantly narrower than its Structuring Range.
See Payments Ì Principal and Prepayment and Yield Analysis.
MACR Classes
On each Payment Date when MACR CertiÑcates are outstanding, we allocate principal
payments from the applicable REMIC CertiÑcates to the related MACR CertiÑcates that are
entitled to principal, as described under MACR CertiÑcates in the OÅering Circular.
REMIC Status
We will form one Upper-Tier REMIC Pool, one Lower-Tier REMIC Pool and one Guaran-
teed Maturity REMIC Pool for this Series. We will elect to treat each REMIC Pool as a REMIC
under the Code. R, RA and RS will be ""Residual Classes'' and the other Classes shown on the front
cover will be ""Regular Classes.'' The Residual Classes will be subject to transfer restrictions. See
Certain Federal Income Tax Consequences in this Supplement and the OÅering Circular.
If you purchase the Call Class, you will be treated for federal income tax purposes as
purchasing a call option on the Underlying REMIC Class. See Certain Federal Income Tax
Consequences Ì CPCs Ì Status of the CPC Classes Ì The Call Class and Ì Taxation of the
CPC Classes Ì The Call Class in our Giant and Other Pass-Through CertiÑcates OÅering
* We calculate weighted average lives based on the assumptions described in Prepayment and Yield Analysis. The actualweighted average lives are likely to diÅer from those shown, perhaps signiÑcantly.
S-7
Group 2PSA Prepayment Assumption
0% 100% 165% 250% 400%
DA, DQ, DT, DU, DW and IAÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2.9 1.8 1.8 1.8 1.8DB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 6.8 4.0 4.0 4.0 3.2DC, GA, GB and IB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 9.3 6.0 6.0 6.0 4.4DE, GC, GD and IC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 10.9 8.0 8.0 8.0 5.9DG ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 12.5 11.5 11.5 11.5 9.3DK ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 10.1 7.0 7.0 7.0 5.2Group 2 Assets ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 9.0 6.5 5.6 4.7 3.6
HA, HC, HD, HE, HG, HJ, HK, HL, HM, HN, HQ 375% PSA - 525% PSAand OL ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ
Group 6PAC
G ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 200% PSA - 600% PSAScheduled
ED ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 247% PSA - 351% PSA
The initial EÅective Ranges, if calculated using the actual characteristics of the Mortgages,
could diÅer from those shown in the table. Even if the Mortgages were to prepay at a constant rate
within the initial EÅective Range shown for any Class, but near the upper or lower end of that
EÅective Range, that Class might not receive scheduled payments. Moreover, there may not be any
constant prepayment rate, based on the actual characteristics of the Mortgages, at which a TAC
Class shown with an EÅective Rate would receive scheduled payments.
Non-constant prepayment rates can cause any Class not to receive scheduled payments, even if
such rates remain within its EÅective Range, if any, shown above. The EÅective Ranges can narrow
or ""drift'' upward or downward over time. Under many scenarios the Classes shown in the table,
especially the Scheduled and TAC Classes, would not receive scheduled payments.
Other Classes support the principal payment stability of the PAC, Scheduled and TAC
Classes, as shown below. When its supporting Classes all retire, any outstanding PAC, Scheduled or
TAC Class will become more sensitive to Mortgage prepayments and its EÅective Range, if any,
S-18
will no longer exist. If a Scheduled or TAC Class supports any other Class at that time, its principal
payment behavior will become similar to that of a Support Class, as described below.
Supporting ClassesClasses Supported by
Group 1PAC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ TAC and SupportTAC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ ZN
Group 2PAC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ TAC and SupportTAC* ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Support
Group 3PAC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Support
Group 6PAC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Scheduled and SupportScheduled**ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ EG and ZT
* This Class loses support to the extent that ZE ""jumps'' it in principal payment priority.** This Class loses support from ZT to the extent that ZT ""jumps'' it in principal payment priority.
If the underlying Mortgages prepay at rates that are generally below the EÅective Range or
Rate for any Class, the available principal may be insuÇcient to produce scheduled payments on
that Class and its weighted average life may extend, perhaps signiÑcantly. If the underlying
Mortgages prepay at rates that are generally above the EÅective Range or Rate for any Class, its
weighted average life may shorten, perhaps signiÑcantly. However, the weighted average life of any
PAC, Scheduled or TAC Class, especially a Non-Sticky Jump Class, could extend (or shorten)
under some scenarios, including ""whipsaw'' scenarios, involving Mortgage prepayments at rates that,
on average, are above (or below) its EÅective Range or Rate.
We distribute all available principal monthly on each Payment Date and do not retain it for
distribution on subsequent Payment Dates. As a result, the likelihood that the PAC, Scheduled and
TAC Classes will receive scheduled payments will not beneÑt from averaging high and low principal
payments in diÅerent months.
Support Classes
The Support Classes support the principal payment stability of the PAC, Scheduled and TAC
Classes as described above. As a result, each Support Class is likely to be much more sensitive to
Mortgage prepayments than is any Class it supports. The Support Classes may receive no principal
payments for extended periods of time, and their principal payment rates may vary widely from
month to month. Relatively fast Mortgage prepayments may signiÑcantly shorten, and relatively
slow Mortgage prepayments may signiÑcantly extend, the weighted average lives of the Support
Classes.
Non-Sticky Jump Classes
We have categorized certain Scheduled, TAC and Support Classes as Non-Sticky Jump
Classes. These Classes ""jump'' to a diÅerent principal payment priority, or are ""jumped,'' on any
Payment Date when the applicable ""trigger'' condition is met. However, they do not ""stick'' to the
new order of priority on any subsequent Payment Date when the trigger condition is not met; rather,
they revert to their original order of priority.
S-19
The weighted average life of any Class that jumps may shorten, perhaps signiÑcantly.
Conversely, the weighted average life of any Class that is jumped may extend, perhaps signiÑcantly.
Jumps can aÅect the yield of a Non-Sticky Jump Class, depending on its purchase price. If you buy
a Non-Sticky Jump Class at a premium, your yield may be lower to the extent that your Class
jumps; if you buy it at a discount, your yield may be lower to the extent that it is jumped.
Pass-Through Classes
Each Pass-Through Class receives all or a speciÑed portion of the principal payments made on
its related Assets. The sensitivity of each Pass-Through Class to prepayments on the underlying
Mortgages is the same as that of its related Assets.
Sequential Pay Classes
The Sequential Pay Classes receive principal payments from their related Assets in a prescribed
sequence.
MACR Classes
The payment characteristics of the MACR Classes reÖect the payment characteristics of their
related REMIC Classes.
Multiclass Assets
The Group 1 Assets consist of a Sequential Pay Class, which was structured to receive principal
payments in accordance with a prescribed sequence.
The Group 4 Assets consist of a Non-Sticky Jump/Support Class. See Support Classes and
Non-Sticky Jump Classes above for a description of this type of Class.
The Group 7 Assets consist of a Non-Sticky Jump/Scheduled Class. See PAC, Scheduled and
TAC Classes and Non-Sticky Jump Classes above for a description of this type of Class. In addition,
the Group 7 Assets are classiÑed as ""Sticky Jump'' as well as ""Non-Sticky Jump'' because in some
""jump'' scenarios they ""stick'' to the new order of priority.
See Prepayment and Yield Analysis in the Multiclass Asset OÅering Circulars.
Declining Balances Table
The following table shows:
‚ Percentages of original balances (as of the Closing Date) that would be outstanding
after each of the Payment Dates shown at various percentages of PSA.
‚ Corresponding weighted average lives.
We have prepared this table using the Modeling Assumptions. However, for 0% PSA, we have
assumed that each Mortgage underlying the Group 2 or 6 Assets (a) has an interest rate 2.5%
higher than that of the related PCs and (b) has a remaining term to maturity of 180 months or
360 months, as applicable, and a loan age of 0 months. We have calculated weighted average lives
for each Notional Class assuming that a reduction in its notional principal amount is a reduction in
principal balance.
S-20
Percentages of Original Balances Outstanding* and Weighted Average Lives
MS, MT, OM, PO, SB, SG, SL, ST, ZE, ZG, ZM, ZN and ZT.
‚ De Minimis OID: B, DG and EG.
‚ Premium: DA, DB, DC, DE, FB, G, H, HA, MP and PA.
OID generally results in recognition of taxable income in advance of the receipt of cash
attributable to that income. The Pricing Speeds used for OID and premium calculations are:
‚ Group 1 Ì 250% PSA
‚ Group 2 Ì 165% PSA
‚ Group 3 Ì 440% PSA
‚ Groups 4 and 5 Ì 300% PSA
‚ Group 6 Ì 490% PSA
‚ Group 7 Ì 425% PSA
For purposes of OID and premium calculations with respect to the Guaranteed Maturity Class,
however, we will also take into account the mandatory retirement of this Class on its Final Payment
Date. See Certain Federal Income Tax Consequences Ì Taxation of Regular Classes Ì Original
Issue Discount and Ì Premium in the OÅering Circular.
We intend to report any original issue or market discount or premium on the Floating Rate
Classes assuming that each variable rate is a Ñxed rate equal to the value of the variable rate as of
the date of this Supplement. See Certain Federal Income Tax Consequences Ì Taxation of Regular
Classes Ì Floating Rate, Inverse Floating Rate and Weighted Average Coupon Classes in the
OÅering Circular.
S-30
Residual Classes
Each Residual Class is the ""residual interest'' in its related REMIC Pool. See General
Information Ì Structure of Transaction. Special tax considerations apply to the Residual Classes.
The taxation of the Residual Classes can produce a signiÑcantly less favorable after-tax return than
if (a) the Residual Classes were taxable as debt instruments or (b) no portion of the taxable income
on the Residual Classes were treated as ""excess inclusions.'' In certain periods, taxable income and
the resulting tax liability on R and RA may exceed any payments on those Classes. See Certain
Federal Income Tax Consequences Ì Taxation of Residual Classes in the OÅering Circular.
A substantial tax may be imposed on certain transferors of a Residual Class and certain
beneÑcial owners of a Residual Class that are ""pass-through entities.'' See Certain Federal Income
Tax Consequences Ì Transfers of Interests in a Residual Class Ì DisqualiÑed Organizations in the
OÅering Circular. You should not purchase a Residual Class before consulting your tax advisor.
We will report with respect to the Guaranteed Maturity REMIC Pool assuming that it
(a) owns an undivided interest in the Underlying REMIC Class and (b) has written a call option to
the Holder of the Call Class. We will report assuming that the basis of that REMIC Pool in the
Underlying REMIC Class includes any value associated with Freddie Mac's obligation to make a
contribution to that REMIC Pool on the Final Payment Date for the Guaranteed Maturity Class
pursuant to Freddie Mac's guarantee. We do not expect the Holders of RA to have any material
adverse tax consequences as a result of this treatment, but investors should consult their tax advisors
regarding this matter.
We intend to report accruals of OID and market discount and to amortize premium with
respect to the Multiclass Assets using the applicable Pricing Speeds shown above, regardless of the
Pricing Speeds used in their Series.
Certain Transfers of Residual Classes
The REMIC Regulations disregard:
1. A transfer of a ""noneconomic residual'' unless no signiÑcant purpose of the transfer is to
impede the assessment or collection of tax.
‚ On July 19, 2002, the Treasury Department promulgated regulations relating to
transfers of noneconomic residual interests in REMICs. The Ñnal regulations generally
adopt the safe harbor standards contained in the proposed regulations (the ""formula
test'') and Rev. Proc. 2001-12 (the ""asset test'') that are set forth in Certain Federal
Income Tax Consequences Ì Taxation of Residual Classes in the OÅering Circular,
with certain exceptions, including the following additional limitations on the circum-
stances under which transferors may claim safe harbor treatment:
a. if a noneconomic residual interest is transferred to a foreign permanent establishment
or Ñxed base of a U.S. taxpayer (within the meaning of an applicable income tax
treaty), the transfer is not eligible for safe harbor treatment under either the asset
test or the formula test; and
b. the transferee must also represent that it will not cause income from the
noneconomic residual interest to be attributable to such a foreign permanent
establishment or Ñxed base.
S-31
‚ The regulations are generally eÅective for transfers of noneconomic residual interests in
REMICs occurring on or after February 4, 2000.
2. Except in certain cases, a transfer of a residual interest to a foreign investor or a transfer of a
residual interest from a foreign investor to a U.S. investor. Accordingly, the Agreement
prohibits the transfer of an interest in a Residual Class to or from a foreign investor without
our written consent.
See Certain Federal Income Tax Consequences Ì Transfers of Interests in a Residual Class Ì
Additional Transfer Restrictions in the OÅering Circular. In the case of a transfer that is
disregarded, the transferor would continue to be treated as the owner of the residual interest and
thus would continue to be subject to tax on its allocable portion of the net income of the REMIC.
Residual Classes with Negative Fair Market Values
The federal income tax consequences of any consideration paid to a transferee on a transfer of a
Residual Class are unclear. The REMIC Regulations do not address whether a residual interest
could have a negative basis and a negative issue price. The preamble to the REMIC Regulations
indicates that the Internal Revenue Service is considering the tax treatment of these types of
residual interests. If you receive consideration for a Residual Class, you should consult your tax
advisor.
Reporting and Administrative Matters
We will provide Holders of the Residual Classes information to enable them to prepare reports
required under the Code or applicable Treasury regulations. Because we do not intend to hold the
Residual Classes, applicable law may not allow us to perform tax administrative functions for the
REMIC Pools. Therefore, if you own a Residual Class, you may have certain tax administrative
obligations, for which we will act as your attorney-in-fact and agent. See Certain Federal Income
Tax Consequences Ì Reporting and Administrative Matters in the OÅering Circular.
MACR Classes
The arrangement under which the MACR Classes are created (the ""MACR Pool'') will be
classiÑed as a grantor trust under subpart E, part I of subchapter J of the Internal Revenue Code.
The interests in the Regular Classes that have been exchanged for the MACR Classes, including
any exchanges eÅective on the Closing Date, will be the assets of the MACR Pool and the MACR
Classes will represent beneÑcial ownership of these assets.
For a discussion of certain federal income tax consequences applicable to the MACR Classes,
see Certain Federal Income Tax Consequences Ì Taxation of MACR Classes, Ì Exchanges of
MACR Classes and Regular Classes and Ì Taxation of Certain Foreign Investors in the OÅering
Circular.
Taxation of Call Class
The purchase price that you pay for the Call Class will be treated as an option premium. The
option premium will be treated as a loss if the option lapses, and that loss will be a capital loss. If you
purchase the Underlying REMIC Class pursuant to the exercise of the Call Right, the option
S-32
premium (in addition to any fee for the exchange) will be added to your basis in the Underlying
REMIC Class.
The Call Class will not be a qualifying asset for a REMIC. Special considerations also may
apply to thrifts, real estate investment trusts and regulated investment companies investing in the
Call Class. These entities should consult their tax advisors before investing in the Call Class.
LEGAL INVESTMENT CONSIDERATIONS
You should consult your legal advisor to determine whether the CertiÑcates are a legal
investment for you and whether you can use the CertiÑcates as collateral for borrowings. See Legal
Investment Considerations in the OÅering Circular.
ERISA CONSIDERATIONS
A Department of Labor regulation provides that, if an employee beneÑt plan subject to the
Employee Retirement Income Security Act of 1974 (""ERISA'') acquires a ""guaranteed govern-
mental mortgage pool certiÑcate,'' then, for purposes of the Ñduciary responsibility and prohibited
transaction provisions of ERISA and the Code, the plan's assets include the certiÑcate and all of its
rights in the certiÑcate, but do not, solely by reason of the plan's holding of the certiÑcate, include
any of the mortgages underlying the certiÑcate. Under this regulation, the term ""guaranteed
governmental mortgage pool certiÑcate'' includes a certiÑcate ""backed by, or evidencing an interest
in, speciÑed mortgages or participation interests therein'' if Freddie Mac guarantees the interest and
principal payable on the certiÑcate.
The regulation makes it clear that Freddie Mac and other persons, in providing services for the
assets in the pool, would not be subject to the Ñduciary responsibility provisions of Title I of ERISA,
or the prohibited transaction provisions of Section 406 of ERISA or Section 4975 of the Code,
merely by reason of the plan's investment in a certiÑcate.
The Regular and MACR Classes should qualify as ""guaranteed governmental mortgage pool
certiÑcates.''
However, the acquisition of the Call Right by the beneÑcial owner of the Call Class, as well as
the consequences of the exercise of the Call Right by such a beneÑcial owner, might be treated
under ERISA as principal transactions between the beneÑcial owners of the Guaranteed Maturity
Class and the beneÑcial owner of the Call Class. Thus, in theory, the acquisition or exercise of the
Call Right could be characterized under certain circumstances as an ERISA prohibited transaction
between a plan and a ""party in interest'' (assuming that the plan owns either the Guaranteed
Maturity Class or Call Class and the ""party in interest'' owns the other Class), unless an ERISA
prohibited transaction exemption, such as PTE 84-14 (for Transactions by Independent QualiÑed
Professional Asset Managers), is applicable. The Call Class may be deemed to be an option to
acquire a guaranteed governmental mortgage pool certiÑcate rather than such a certiÑcate. ERISA
plan Ñduciaries should consult with their counsel concerning these issues.
PLAN OF DISTRIBUTION
Under an agreement with the Underwriter, we have agreed to sell all of the REMIC
CertiÑcates to the Underwriter in exchange for the Assets.
S-33
The Underwriter intends to:
‚ Redeliver the Underlying REMIC Class to us for inclusion in the Callable Pool.
‚ OÅer the other REMIC and MACR Classes to the public in negotiated transactions at
varying prices to be determined at the time of sale, plus accrued interest on each
interest-bearing Class from the Ñrst day of its initial Accrual Period.
‚ OÅer the Call Class in a negotiated transaction with a single purchaser at a price to be
determined at the time of sale.
The Underwriter is oÅering the CertiÑcates subject to their issuance by us and subject to the
Underwriter's right to reject any order. The Underwriter may make sales to or through securities
dealers, which may include Freddie Mac through our Securities Sales & Trading Group. The
dealers may receive compensation in the form of discounts, concessions or commissions from the
Underwriter and commissions from any purchasers for which they act as agents.
Our agreement with the Underwriter provides that we will indemnify it against certain
liabilities.
LEGAL MATTERS
Maud Mater, Esq., Executive Vice President Ì General Counsel and Secretary of Freddie
Mac, will render an opinion on the legality of the CertiÑcates. Stroock & Stroock & Lavan LLP is
representing the Underwriter on legal matters concerning the CertiÑcates.
S-34
Exhibit I
REDEMPTION AND EXCHANGE PROCEDURES
Notice
‚ If you own the Call Class and want Freddie Mac to redeem the Callable and Guaranteed
Maturity Classes on their Final Payment Date (the ""Redemption Date''), you must notify
Freddie Mac at least Ñve business days before the related Record Date (the end of the preceding
calendar month). If you do not notify Freddie Mac that you want Freddie Mac to redeem the
Callable and Guaranteed Maturity Classes by the close of business on the Ñfth business day
before the related Record Date, your Call Right will expire.
‚ You must notify Freddie Mac through a dealer that belongs to Freddie Mac's REMIC dealer
group. The dealer must notify Freddie Mac by telephone (703-903-2767), followed by written
conÑrmation (which may be by fax at 703-903-3929) on the same day in a form speciÑed by
Freddie Mac. Your notiÑcation is irrevocable once Freddie Mac receives it.
Related Fees and Payments
‚ The ""Call Payment'' will equal:
1. the remaining principal amount of the Underlying REMIC Class, based on its Class Factor
published in the month preceding the Redemption Date, plus
2. accrued interest at the Class Coupon of such Class for the related Accrual Period on that
remaining principal amount.
‚ The ""Call Fee'' equals 1/32 of 1% of the remaining principal amount of the Underlying REMIC
Class (but not less than $7,500).
Exchange of Underlying REMIC Class
‚ On the Record Date relating to the Redemption Date, Freddie Mac will transfer the Underlying
REMIC Class to you in exchange for:
‚‚ The Call Class.
‚‚ The Call Fee.
‚‚ The Call Payment.
‚ Freddie Mac will give you instructions for delivery of the Call Class, Call Fee and Call Payment.
‚ Principal and interest payable on the Underlying REMIC Class will be payable to you beginning
on the Redemption Date.
Redemption of Guaranteed Maturity Class
‚ On the Redemption Date, Freddie Mac will redeem the Guaranteed Maturity Class by paying to
its Holders the Call Payment.
‚ Freddie Mac will not make any other payment on the Guaranteed Maturity Class.
‚ Once redeemed, the Guaranteed Maturity Class and the Callable and Call Classes will not be
reissued.
S-35
Defaulting Call Class Holder
If you give notice of exercise of your Call Right, but you fail to deliver the Call Class, Call
Payment and Call Fee on the Record Date, then:
‚ On the next Business Day, Freddie Mac will liquidate the Underlying REMIC Class in a
commercially reasonable manner.
‚ Freddie Mac will charge you a liquidation fee of $10,000.
‚ Freddie Mac will apply the net proceeds of the liquidation, as necessary, to redeem the Callable
and Guaranteed Maturity Classes.
‚ On the Redemption Date, Freddie Mac will pay to you the excess, if any, of:
1. payments received on the Underlying REMIC Class in the month of redemption, plus
2. the net proceeds to Freddie Mac from the liquidation of the Underlying REMIC Class
over
1. the amount of the Call Payment for the Underlying REMIC Class, plus
2. the liquidation fee.
‚ You will have no further right to or interest in the Callable Class, Call Class or Underlying
REMIC Class.
‚ If Freddie Mac must make a payment under its guarantee to redeem the Guaranteed Maturity
Class, you will be obligated to pay that amount to Freddie Mac in addition to the liquidation fee.
S-36
Exhibit II Ì Series 2449 Front Cover and Terms SheetOÅering Circular Supplement $3,751,094,025(To OÅering CircularDated March 1, 2002)
Freddie MacMulticlass CertiÑcates, Series 2449 V
OÅered Classes: REMIC Classes shown below, Call Classes shown on page S-3 and MACR Classes shown on Appendix AUnderlying Assets: Groups 1, 2, 3, 5, 8 and 9: Freddie Mac PCs
Groups 4 and 6: Freddie Mac Stripped Giant CertiÑcatesGroup 7: Freddie Mac REMIC CertiÑcates
Payment Dates: Monthly beginning in June 2002Call Classes: The Holder of each Call Class may direct Freddie Mac to redeem the related Guaranteed Maturity Class or Classes on their Final
Payment Date and acquire the related Underlying REMIC Class, as described under Terms Sheet Ì Call ClassesTax Status: Double-Tier REMIC plus separate REMICs for the Guaranteed Maturity ClassesForm of Classes: Regular (non-Retail) and MACR Classes: Book-entry on Fed System
Retail Classes: Book-entry on DTC System; issued and paid in $1,000 Retail Class UnitsResidual and Call Classes: CertiÑcated
OÅering Terms: The underwriter named below is oÅering the Classes in negotiated transactions at varying pricesClosing Date: May 30, 2002
REMIC Original Principal Class Interest CUSIP Final Payment REMIC Original Principal Class Interest CUSIP Final PaymentClasses Balance Type(1) Coupon Type(1) Number Date Classes Balance Type(1) Coupon Type(1) Number Date
Group 1 Group 3DX(3) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ 63,119,700 TAC 6.0% FIX 31392KQK5 July 15, 2016 EX(3) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $136,501,000 NSJ/SUP 5.75% FIX 31392KU20 May 15, 2017TA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 32,209,033 PAC 4.0 FIX 31392K T 2 2 October 15, 2006 MEÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 51,500,000 GMC/NSJ/SUP 5.75 FIX 31392KTC0 December 15, 2012TB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 25,000,000 SEQ 6.5 FIX 31392KSZ0 May 15, 2017 MG ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 81,264,714 GMC/NSJ/TAC 5.75 FIX 31392KTE6 December 15, 2012TC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 25,271,634 PAC 5.0 FIX 31392KPV2 July 15, 2009 MI ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,687,541 NTL(NSJ/SUP) 6.0 FIX/IO 31392K T F 3 May 15, 2017TD ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 63,119,700 GMC/TAC 6.0 FIX 31392K P S 9 December 15, 2012 MLÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 71,852,623 PAC 4.0 FIX 31392KTG1 April 15, 2007TE ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 45,050,286 PAC 5.25 FIX 31392KPW0 April 15, 2013 MN ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 49,841,284 PAC 5.0 FIX 31392KRU2 December 15, 2009TG ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 33,612,630 PAC 6.0 FIX 31392KPR1 May 15, 2015 MQ ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 89,181,339 PAC 5.25 FIX 31392KRW8 June 15, 2013TH ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 13,759,417 PAC 6.5 FIX 31392K P T 7 February 15, 2016 MRÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 61,552,600 PAC 6.0 FIX 31392KRP3 April 15, 2015TI ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 4,855,361 NTL(TAC) 6.5 FIX/IO 31392KPU4 July 15, 2016 MU ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 31,910,154 PAC 6.0 FIX 31392KRQ1 March 15, 2016TZ ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,202,300 TAC 6.5 FIX/Z 31392K T P 1 July 15, 2016 MZÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 20,000,000 SEQ 6.0 FIX/Z 31392KRT5 May 15, 2017UI ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 29,469,108 NTL(PAC) 6.5 FIX/IO 31392KPZ3 May 15, 2015 NI ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 43,405,422 NTL(PAC) 6.0 FIX/IO 31392MEQ1 June 15, 2013ZT ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 6,775,000 SUP 6.5 FIX/Z 31392K T S 5 July 15, 2016 VMÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 12,500,000 AD/SEQ 6.0 FIX 31392KQ33 July 15, 2010
ZMÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 8,713,000 NSJ/SUP 6.0 FIX/Z 31392KRX6 May 15, 2017Group 2 ZN ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 17,948,000 NSJ/SUP 6.0 FIX/Z 31392KRZ1 May 15, 2017AA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 10,729,000 SUP/RTL 6.75 FIX 31392KU53 July 15, 2031 ZWÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3,736,286 GMC/NSJ/SUP 5.75 FIX/Z 31392KTT3 December 15, 2012C ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 668,795 SUP 6.75 FIX 31392KQX7 May 15, 2032
Group 4CA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 4,212,000 SUP 6.75 FIX 31392KQV1 July 15, 2031FL ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 20,000,000 PT (2) FLT 31392K S T 4 January 15, 2032CB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 4,529,000 SUP 6.75 FIX 31392KQZ2 September 15, 2031SL ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 20,000,000 NTL(PT) (2) INV/IO 31392KTB2 January 15, 2032CE ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,595,355 SUP 6.75 FIX 31392K R 4 0 May 15, 2032
CF ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 12,656,250 SUP (2) FLT/DLY 31392KQY5 July 15, 2031 Group 5CG ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,100,000 SUP 7.0 FIX 31392K R 2 4 May 15, 2032 EF ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,416,666 SUP (2) FLT/DLY 31392K Q J 8 May 15, 2031CHÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,100,000 SUP 6.5 FIX 31392K R 3 2 May 15, 2032 ES ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,514,583 SUP (2) INV/DLY 31392KTZ9 May 15, 2031CJ ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,429,000 SUP 6.5 FIX 31392KQW9 June 15, 2031 ET ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 568,751 SUP (2) INV/DLY 31392KU38 May 15, 2031CK ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,612,000 SUP 6.5 FIX 31392KQR0 October 15, 2031 FX ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2,362,685 SCH (2) FLT 31392KSU1 October 15, 2031CL ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,876,000 SUP 6.5 FIX 31392KQT6 November 15, 2031 GKÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 9,293,571 SUP 6.5 FIX 31392KRF5 May 15, 2031CMÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,326,466 SUP 6.5 FIX 31392KQU3 May 15, 2032 GL ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 4,580,065 SUP 6.5 FIX 31392KRG3 October 15, 2031CO ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,931,352 SUP 0.0 PO 31392KQS8 May 15, 2032 GM ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3,053,376 SUP 6.5 FIX 31392KRH1 December 15, 2031CS ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,738,451 SUP (2) INV/DLY 31392KQQ2 July 15, 2031 GNÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 6,106,753 SUP 6.5 FIX 31392KRE8 May 15, 2032CT ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 605,299 SUP (2) INV/DLY 31392KTV8 July 15, 2031 JA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 77,000,000 PAC 6.0 FIX 31392K R 8 1 April 15, 2024DD ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3,833,000 SUP/RTL 6.75 FIX 31392KTX4 December 15, 2031 JI ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,923,076 NTL(PAC) 6.5 FIX/IO 31392K R 7 3 April 15, 2024DF ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 9,750,000 SUP (2) FLT/DLY 31392KTW6 June 15, 2031 JK ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 10,065,425 AD/PAC 6.5 FIX 31392KSE7 February 15, 2013DS ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 9,750,000 SUP (2) INV/DLY 31392KQP4 June 15, 2031 JL ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 8,311,757 PAC 6.5 FIX 31392K S F 4 July 15, 2018EE ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 7,448,000 SUP/RTL 6.75 FIX 31392KQM1 May 15, 2032 JM ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 31,475,600 PAC 6.0 FIX 31392KSG2 May 15, 2027FK ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 102,260,122 SUP (2) FLT 31392KSQ0 May 15, 2032 JN ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 10,682,019 PAC 6.5 FIX 31392KSH0 March 15, 2028GAÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,419,000 SUP 6.5 FIX 31392K S S 6 April 15, 2031 JP ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 35,326,731 PAC 6.5 FIX 31392KSB 3 September 15, 2030GB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 4,780,000 SUP 6.5 FIX 31392KRL2 July 15, 2031 JW ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 7,814,235 PAC 6.5 FIX 31392K S 9 8 April 15, 2007GC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 6,900,000 SUP 6.5 FIX 31392KRM0 November 15, 2031 JZ ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 10,000,000 PAC 6.5 FIX/Z 31392K S 4 9 May 15, 2032GDÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 6,400,000 SUP 6.5 FIX 31392KRN8 May 15, 2032 KI ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2,421,200 NTL(PAC) 6.5 FIX/IO 31392K S 3 1 May 15, 2027GF ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 9,176,470 SUP (2) FLT/DLY 31392KRK4 April 15, 2031 KK ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,905,000 SCH/RTL 6.5 FIX 31392K S 8 0 February 15, 2032GGÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3,000,000 SUP/RTL 6.5 FIX 31392K R J 7 April 15, 2031 LK ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 9,450,740 SCH 6.0 FIX 31392KQG4 October 15, 2031GS ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2,089,411 SUP (2) INV/DLY 31392KSV9 April 15, 2031 NNÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,905,000 SCH/RTL 6.5 FIX 31392K T 6 3 May 15, 2032GT ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 734,119 SUP (2) INV/DLY 31392KSX5 April 15, 2031 QQÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3,809,000 SUP/RTL 6.5 FIX 31392KQ82 May 15, 2032HAÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 49,641,000 PAC II 6.5 FIX 31392KSW7 January 15, 2032 SX ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2,362,685 NTL(SCH) (2) INV/IO 31392K T 3 0 October 15, 2031HB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 14,899,000 PAC II 6.5 FIX 31392K R 9 9 April 15, 2032 TX ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2,362,685 NTL(SCH) (2) INV/IO 31392KTQ9 October 15, 2031HCÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 4,322,945 PAC II 6.5 FIX 31392KRA6 May 15, 2032 WN ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 15,679,000 SUP 6.5 FIX 31392K S J 6 August 15, 2031HHÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3,000,000 PAC II/RTL 6.5 FIX 31392K R 6 5 May 15, 2032 WPÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,512,000 SUP 6.5 FIX 31392KSN7 February 15, 2032JJ ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,050,000 SUP/RTL 6.5 FIX 31392KSD9 June 15, 2031
Group 6JS ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 102,260,122 NTL(SUP) (2) INV/IO 31392K S 6 4 May 15, 2032FC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 50,000,000 PT (2) FLT 31392KU46 March 15, 2032KB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2,500,000 SCH 6.25 FIX 31392K S 5 6 May 15, 2032HS ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 50,000,000 NTL(PT) (2) INV/IO 31392K R 5 7 March 15, 2032KO ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 23,598,490 SUP 0.0 PO 31392K S 7 2 May 15, 2032NS ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 50,000,000 NTL(PT) (2) INV/IO 31392K T 7 1 March 15, 2032KX ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 51,908,880 SCH 6.5 FIX 31392KQH2 May 15, 2032
MM ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 6,964,000 SUP/RTL 6.5 FIX 31392KTD8 May 15, 2032LI ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2,345,525 SC/NTL(SCH) 6.5 FIX/IO 31392KQE9 July 15, 2026
NDÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 42,300,000 PAC I 6.5 FIX 31392K T 4 8 May 15, 2030PT ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 30,491,837 SC/SCH 6.0 FIX 31392KQ66 July 15, 2026
NE ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 62,921,865 PAC I 6.5 FIX 31392K T 5 5 May 15, 2032NUÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 38,890,918 PAC I 4.0 FIX 31392KQ74 August 15, 2012 Group 8NW ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 209,209,082 PAC I 5.0 FIX 31392KQ41 October 15, 2028 FQ ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100,000,000 PT (2) FLT 31392KSR8 May 15, 2032NXÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 10,000,000 PAC II 6.5 FIX 31392KQ58 May 15, 2032 LO ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 30,769,231 PT 0.0 PO 31392KTH9 May 15, 2032UUÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 7,000,000 SUP/RTL 6.5 FIX 31392KQ25 May 15, 2032 SU ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 20,000,000 NTL(SEQ) (2) INV/IO 31392K T 9 7 May 15, 2032WA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 15,679,000 SUP 6.5 FIX 31392KPX8 August 15, 2031 SY ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 80,000,000 NTL(SEQ) (2) INV/IO 31392KSY3 February 15, 2030WBÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5,512,000 SUP 6.5 FIX 31392KSK3 February 15, 2032
Group 9WFÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3,657,062 SUP (2) FLT/DLY 31392K S P 2 April 15, 2031
MVÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 125,000,000 AD/SEQ 6.5 FIX 31392KRS7 July 15, 2017WI ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 63,237,064 NTL(PAC I) 6.5 FIX/IO 31392KSM9 October 15, 2028
MX ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 800,000,000 SEQ 6.5 FIX 31392KRR9 February 15, 2030WSÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 843,938 SUP (2) INV/DLY 31392KSL1 April 15, 2031
ZA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 75,000,000 SEQ 6.5 FIX/Z 31392K S 2 3 May 15, 2032WW ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3,809,000 SUP/RTL 6.5 FIX 31392KRB4 May 15, 2032XA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 77,781,837 PAC I 4.0 FIX 31392KRC2 August 15, 2012 ResidualXB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 65,072,134 PAC I 5.0 FIX 31392KRD0 March 15, 2017 R ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 NPR 0.0 NPR 31392K T J 5 May 15, 2032XC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 120,685,288 PAC I 5.25 FIX 31392KQC3 August 15, 2022 RA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 NPR 0.0 NPR 31392MGA4 December 15, 2012XD ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 106,950,367 PAC I 6.0 FIX 31392KQ90 November 15, 2025 RB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 NPR 0.0 NPR 31392KTL0 December 15, 2012XE ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 336,154,104 PAC I 6.5 FIX 31392KQA7 May 15, 2032 RS ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 NPR 0.0 NPR 31392KTK2 May 15, 2032XI ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 96,153 NTL(SCH) 6.5 FIX/IO 31392KQB5 May 15, 2032 RT ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 NPR 0.0 NPR 31392KTN6 December 15, 2012YI ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 76,368,398 NTL(PAC I) 6.5 FIX/IO 31392KRY4 November 15, 2025
(1) See Appendix II to the OÅering Circular.(2) See Terms Sheet Ì Interest.(3) DX and EX back Guaranteed Maturity Classes and will not be oÅered initially. See Terms Sheet Ì Guaranteed Maturity Classes.
The CertiÑcates may not be suitable investments for you. You should consider carefully the risks of investing in them. Certain Risk Considerations on pageS-2 highlights some of these risks.
You should purchase CertiÑcates only if you have read and understood this Supplement, the attached OÅering Circular and the documents listed underAvailable Information.
We guarantee principal and interest payments on the CertiÑcates and the proceeds due on the Call Classes upon exercise of the related Call Rights. Thesepayments and proceeds are not guaranteed by and are not debts or obligations of the United States or any federal agency or instrumentality other thanFreddie Mac. The CertiÑcates are not tax-exempt. Because of applicable securities law exemptions, we have not registered the CertiÑcates with any federalor state securities commission. No securities commission has reviewed this Supplement.
Credit Suisse First BostonApril 11, 2002
S-37
TERMS SHEET
This Terms Sheet contains selected information about this Series. You should refer to the
remainder of this Supplement for further information.
In this Supplement, we refer to Classes only by their letter designations. For example, ""R''
refers to the R Class of this Series.
Guaranteed Maturity Classes
Each Guaranteed Maturity Class shown on the front cover represents an interest in a
""Guaranteed Maturity REMIC Pool'' that directly or indirectly holds a single Class of Freddie Mac
Callable Pass-Through CertiÑcates of this Series (each, a ""Callable Class''). These Callable
Classes will not be oÅered for sale. Each Callable Class will represent an interest in a callable pass-
through pool (each, a ""Callable Pool'') that includes a single REMIC Class (each, an ""Underlying
REMIC Class'') of this Series. Each Callable Pool will also issue a ""Call Class'' as shown below.
Underlying Related GuaranteedGroup Call Class CUSIP Number REMIC Class Callable Class Maturity Class(es) Final Payment Date
1 D1 31392KTU0 DX DY TD December 15, 20123 E1 31392KQN9 EX EY ME, MG and ZW December 15, 2012
On each Payment Date while the Guaranteed Maturity Classes are outstanding, their Holders
will receive the principal payments made on the same Payment Date on their related Underlying
REMIC Classes. Each Guaranteed Maturity Class will accrue interest on each Payment Date at its
Class Coupon.
On its Final Payment Date, the Holders of each Guaranteed Maturity Class, if outstanding, will
be entitled to receive the outstanding principal balance of their CertiÑcates plus interest at the
applicable Class Coupon accrued during the related Accrual Period, even if its related Underlying
REMIC Class has not retired.
See General Information Ì Structure of Transaction.
Call Classes
If you own a Call Class, you will not receive any payments of principal or interest. There can be
only one Holder at a time of a Call Class. If you are the Holder of a Call Class, you will have the
right (the ""Call Right''):
1. To direct Freddie Mac to redeem the related Callable and Guaranteed Maturity Classes
shown in the table above on the applicable Final Payment Date.
2. To exchange your Call Class for the related Underlying REMIC Class.
You must pay a Call Fee and a Call Payment to exercise the Call Right. Exhibit I explains the
procedures for exercising the Call Right.
Interest
The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover and
Appendix A.
CO, KO and LO are Principal Only Classes and do not bear interest.
S-38
The Floating Rate and Inverse Floating Rate Classes bear interest as shown in the following
table. Except as otherwise noted, the initial Class Coupons apply only to the Ñrst Accrual Period.
We determine LIBOR using the BBA method.
Class Coupon Subject toInitial ClassClass Coupon Class Coupon Formula Minimum Rate Maximum Rate
* We calculate weighted average lives based on the assumptions described in Prepayment and Yield Analysis. The actualweighted average lives are likely to diÅer from those shown, perhaps signiÑcantly.
** The weighted average lives for each Retail Class apply to that Class as a whole. The weighted average lives of RetailClass Units will vary among diÅerent investors.
FC, HS, NS, SC and Group 6 Assets ÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 19.2 11.1 8.2 5.4 4.3
Group 7PSA Prepayment Assumption
0% 150% 251% 450% 600%
LI, PT and Group 7 AssetsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 18.2 6.9 6.9 4.4 3.5
** The weighted average lives for each Retail Class apply to that Class as a whole. The weighted average lives of RetailClass Units will vary among diÅerent investors.
Weighted AverageRemaining Term Weighted Average Weighted Average Per Annum
to Maturity Loan Age Per Annum Interest RateSeries (in months) (in months) Interest Rate of Related PCs
2433 356 3 6.975% 6.5%
The actual characteristics of the Mortgages diÅer from those shown, in some cases
signiÑcantly.
See General Information Ì The Mortgages.
S-49
Exhibit III Ì Series 2379 Front Cover and Terms SheetOÅering Circular Supplement(To OÅering Circular $2,897,521,841Dated January 1, 2000)
Freddie MacMulticlass CertiÑcates, Series 2379 V
OÅered Classes: REMIC Classes shown below, Call Classes shown on page S-3 and MACR Classes shown on Appendix A
Underlying Assets: Groups 1, 2, 3 and 5: Freddie Mac PCsGroups 4, 6 and 7: Freddie Mac REMIC CertiÑcates
Payment Dates: Monthly beginning in December 2001
Call Classes: The Holder of each Call Class may direct Freddie Mac to redeem the related Guaranteed Maturity Class onits Final Payment Date and acquire the related Underlying REMIC Class, as described under TermsSheet Ì Call Classes
Tax Status: Double-Tier REMIC plus separate REMICs for the Guaranteed Maturity and Group 6 Classes
Form of Classes: Regular and MACR Classes (other than TC): Book-entry on Fed SystemTC: Book-entry on DTC SystemResidual and Call Classes: CertiÑcated
OÅering Terms: The underwriter named below is oÅering the Classes in negotiated transactions at varying prices
Closing Date: November 30, 2001
REMIC Original Principal Class Interest CUSIP Final Payment REMIC Original Principal Class Interest CUSIP Final PaymentClasses Balance Type(1) Coupon Type(1) Number Date Classes Balance Type(1) Coupon Type(1) Number Date
Group 1 Group 4JA ÏÏÏÏÏ $102,900,000 GMC/NSJ/TAC 5.0% FIX 31339LD72 November 15, 2011 HAÏÏÏÏÏ $ 64,000,000 SC/PAC 5.0% FIX 31339LC4 0 December 15, 2024JB ÏÏÏÏÏ 105,000,000 SEQ 6.5 FIX 31339LDT4 November 15, 2031 HB ÏÏÏÏÏ 30,356,000 SC/PAC 5.8 FIX 31339LC2 4 December 15, 2024JI ÏÏÏÏÏ 23,746,153 NTL(NSJ/TAC) 6.5 FIX/IO 31339LDB3 January 15, 2027 HI ÏÏÏÏÏ 7,876,923 SC/NTL(PAC) 6.5 FIX/IO 31339LCA6 December 15, 2024JP ÏÏÏÏÏ 85,701,000 PAC 6.5 FIX 31339LDC1 December 15, 2023JX(3) ÏÏ 102,900,000 NSJ/TAC 5.0 FIX 31339LBV1 January 15, 2027 Group 5JZ ÏÏÏÏÏ 1,399,000 SUP 6.5 FIX/Z 31339LDQ0 July 15, 2027 MA ÏÏÏÏ 224,564,000 PAC 6.0 FIX 31339LDR8 December 15, 2013ZJ ÏÏÏÏÏ 5,000,000 NSJ/SUP 6.5 FIX/Z 31339LDS6 February 15, 2027 MBÏÏÏÏÏ 1,659,000 TAC 6.0 FIX 31339LDM9 October 15, 2014
MD ÏÏÏÏ 117,523,000 GMC/SCH 4.5 FIX 31339LCF5 December 15, 2008Group 2 MI ÏÏÏÏÏ 29,380,750 NTL(SCH) 6.0 FIX/IO 31339LDL1 September 15, 2014IA ÏÏÏÏÏ 6,072,166 NTL(NSJ/SJ/SCH) 6.0 FIX/IO 31339LCC2 November 15, 2031 MX(3) 117,523,000 SCH 4.5 FIX 31339LBW9 September 15, 2014NL ÏÏÏÏÏ 75,900,000 NSJ/SCH 6.0 FIX 31339LCK4 November 15, 2031 MZÏÏÏÏÏ 16,254,000 SUP 6.0 FIX/Z 31339LCR9 November 15, 2014NM ÏÏÏÏ 151,234,000 NSJ/SJ/TAC 6.0 FIX 31339LCL2 November 15, 2031 Z ÏÏÏÏÏ 40,000,000 SEQ 6.0 FIX/Z 31339LD31 November 15, 2016NP ÏÏÏÏÏ 633,476,000 PAC 6.0 FIX 31339LCT5 November 15, 2031NQÏÏÏÏÏ 72,866,000 NSJ/SJ/SCH 5.5 FIX 31339LCU2 November 15, 2031
Group 6NZÏÏÏÏÏ 2,000,000 NSJ/SUP 6.0 FIX/Z 31339LCH1 November 15, 2031
KAÏÏÏÏÏ 35,817,779 SC/PT (2) W 31339LD23 October 15, 2031ZNÏÏÏÏÏ 64,524,000 NSJ/SUP 6.0 FIX/Z 31339LD49 October 15, 2031
Group 3 Group 7FA ÏÏÏÏÏ 7,517,869 NSJ/SUP (2) FLT/DLY 31339LD98 November 15, 2031 SH ÏÏÏÏÏ 3,472,062 SC/PT (2) INV 31339LCW8 October 15, 2023IT ÏÏÏÏÏ 20,439,500 NTL(NSJ/SUP) 6.0 FIX/IO 31339LDU1 November 15, 2031SA ÏÏÏÏÏ 7,517,870 NSJ/SUP (2) INV/DLY 31339LDN7 November 15, 2031 ResidualTA ÏÏÏÏÏ 171,236,000 PAC I 5.0 FIX 31339LDE7 March 15, 2017 R ÏÏÏÏÏ 0 NPR 0.0 NPR 31339LDA5 November 15, 2031TB ÏÏÏÏÏ 582,146,000 PAC I 6.0 FIX 31339LDH0 November 15, 2031 RA ÏÏÏÏÏ 0 NPR 0.0 NPR 31339LC8 1 November 15, 2011TI ÏÏÏÏÏ 28,539,333 NTL(PAC I) 6.0 FIX/IO 31339LDF4 March 15, 2017 RB ÏÏÏÏÏ 0 NPR 0.0 NPR 31339LC7 3 December 15, 2008TK ÏÏÏÏÏ 130,000,000 NSJ/SUP 5.5 FIX 31339LDG2 November 15, 2031 RC ÏÏÏÏÏ 0 NPR 0.0 NPR 31339LC6 5 October 15, 2031TL ÏÏÏÏÏ 65,220,000 NSJ/PAC II 6.0 FIX 31339LDK3 November 15, 2031 RS ÏÏÏÏÏ 0 NPR 0.0 NPR 31339LDP2 November 15, 2031TU ÏÏÏÏÏ 100,238,261 NSJ/SUP 5.35 FIX 31339LDJ 6 November 15, 2031
(1) See Appendix II to the OÅering Circular. ""GMC'' means Guaranteed Maturity Class.(2) See Terms Sheet Ì Interest.(3) JX and MX back Guaranteed Maturity Classes and will not be oÅered initially. See Terms Sheet Ì Guaranteed Maturity Classes.
The CertiÑcates may not be suitable investments for you. You should consider carefully the risks of investing in them.Certain Risk Considerations on page S-2 highlights some of these risks.
You should purchase CertiÑcates only if you have read and understood this Supplement, the attached OÅering Circularand the documents listed under Available Information.
We guarantee principal and interest payments on the CertiÑcates and the proceeds due on each Call Class upon exerciseof the related Call Right. These payments and proceeds are not guaranteed by and are not debts or obligations of theUnited States or any federal agency or instrumentality other than Freddie Mac. The CertiÑcates are not tax-exempt.Because of applicable securities law exemptions, we have not registered the CertiÑcates with any federal or statesecurities commission. No securities commission has reviewed this Supplement.
Bear, Stearns & Co. Inc.
October 11, 2001
S-50
TERMS SHEET
This Terms Sheet contains selected information about this Series. You should refer to the
remainder of this Supplement for further information.
In this Supplement, we refer to Classes only by their letter designations. For example, ""R''
refers to the R Class of this Series.
Guaranteed Maturity Classes
Each Guaranteed Maturity Class shown on the front cover represents an interest in a separate
""Guaranteed Maturity REMIC Pool'' that holds a single Class of Freddie Mac Callable Pass-
Through CertiÑcates of this Series (each, a ""Callable Class''). These Callable Classes will not be
oÅered for sale. Each Callable Class will represent an interest in a separate callable pass-through
pool (each, a ""Callable Pool'') that includes a single REMIC Class (each, an ""Underlying
REMIC Class'') of this Series. Each Callable Pool will also issue a ""Call Class'' as shown below.
CUSIP Underlying GuaranteedGroup Call Class Number REMIC Class Callable Class Maturity Classes Final Payment Date
1 J1 31339LD56 JX JY JA November 15, 20115 M1 31339LCZ1 MX MY MD December 15, 2008
On each Payment Date while a Guaranteed Maturity Class is outstanding, its Holders will
receive the principal payment made on the same Payment Date on its related Underlying REMIC
Class. Each Guaranteed Maturity Class will bear interest on each Payment Date at its Class
Coupon.
On its Final Payment Date, the Holders of each outstanding Guaranteed Maturity Class will be
entitled to receive the outstanding principal balance of their CertiÑcates plus interest at the
applicable Class Coupon accrued during the related Accrual Period, even if the related Underlying
REMIC Class has not retired.
See General Information Ì Structure of Transaction.
Call Classes
If you own a Call Class, you will not receive any payments of principal or interest. There can be
only one Holder at a time of a Call Class. If you are the Holder of a Call Class, you will have the
right (the ""Call Right''):
1. To direct Freddie Mac to redeem the related Callable and Guaranteed Maturity Classes
shown in the table above on the applicable Final Payment Date.
2. To exchange your Call Class for the related Underlying REMIC Class.
You must pay a Call Fee and a Call Payment to exercise a Call Right. Exhibit I explains the
procedures for exercising a Call Right.
Interest
The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover and
Appendix A.
NO is a Principal Only Class and does not bear interest.
S-51
The Weighted Average Coupon Classes are shown in the following table. KA accrues interest
at a Class Coupon derived by aggregating the accrued interest on its related Multiclass Assets. TC
accrues interest at a Class Coupon derived by aggregating the accrued interest on its related
REMIC Classes shown in Appendix A. The initial Class Coupons apply only to the Ñrst Accrual
Period. The Class Coupons for the Weighted Average Coupon Classes will vary from month to
month, as the related Multiclass Assets or REMIC Classes reduce at diÅerent rates.
MinimumGroup Class Initial Class Coupon Class Coupon
3 TC* 6.50480979% 6.0%6 KA 4.696066 0.0
* MACR Class.
The Floating Rate and Inverse Floating Rate Classes bear interest as shown in the following
table. The initial Class Coupons apply only to the Ñrst Accrual Period. We determine LIBOR for
FA and SA using the BBA Method; we determine LIBOR for SH using the LIBO Method.
Class Coupon Subject toInitial ClassClass Coupon Class Coupon Formula Minimum Rate Maximum Rate
* We calculate weighted average lives based on the assumptions described in Prepayment and Yield Analysis. The actualweighted average lives are likely to diÅer from those shown, perhaps signiÑcantly.
S-57
Group 2PSA Prepayment Assumption
0% 100% 197% 211% 212% 250% 251% 252% 400%
IA and NQ ÏÏÏÏÏÏÏÏÏÏÏÏÏ 24.2 15.8 8.0 7.9 10.7 4.9 4.8 4.8 2.3NE, NG, NI, NJ, NK,
TA and TI ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 5.9 2.0 2.0 2.0 2.0 2.0 2.0TB and TC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 19.3 9.5 9.5 9.5 8.4 8.4 6.6TL ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 26.0 12.9 3.0 3.0 2.9 0.9 0.8Group 3 AssetsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 19.6 11.4 7.6 6.5 5.7 5.6 4.5
CPRPrepaymentAssumption
17.9% 18.0%
FA, IB, IT, SA, TK, TR, TU, TV and TW ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1.2 0.7TL ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0.2 1.9
Group 4PSA Prepayment Assumption
0% 124% 200% 255% 400%
HA and HI ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 8.5 2.4 2.4 2.4 2.2HB, HC, HD and IH ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 16.4 5.5 5.5 5.5 3.9Group 4 Assets ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 11.1 3.4 3.4 3.4 2.7
KA and Group 6 Assets ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 17.5 4.5 1.2 0.7 0.5
Group 7PSA Prepayment Assumption
0% 300% 593% 900% 1,200%
SH and Group 7 AssetsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 17.7 5.2 1.1 0.4 0.2
The Assets
The Group 1, Group 2, Group 3 and Group 5 Assets (the ""PC Assets'') consist of:
‚ Group 1 Ì $300,000,000 of Freddie Mac 6.5% per annum 30-year PCs.
‚ Group 2 Ì $1,000,000,000 of Freddie Mac 6.0% per annum 30-year PCs.
‚ Group 3 Ì $1,063,876,000 of Freddie Mac 6.0% per annum 30-year PCs.
‚ Group 5 Ì $400,000,000 of Freddie Mac 6.0% per annum 15-year PCs.
The Group 4, Group 6 and Group 7 Assets (the ""Multiclass Assets'') consist of:Class Factor
Percentage of Class Balance in for Month of Class Principal/ FinalGroup Class in This Series This Series Closing Date Coupon Interest Type Payment Date
4 2309-KA 87.8907559894% $94,356,000 1.0000000 5.8% PAC/FIX December 15, 2024
1630-SB 100.0000000000 7,037,600 1.0000000 (1) SUP/INV November 15, 2023A
1972-SC(2) 100.0000000000 6,765,470 0.9453938 (1) SC/PT/INV March 15, 20242299-AP(2) 50.4926073625 10,359,896 0.7617571 0.0 SC/PT/PO December 15, 2023
B6 2299-HP(2) 100.0000000000 3,978,269 0.5989714 0.0 SC/PT/PO May 15, 20292372-SL 52.0611576615 5,755,753 1.0000000 (1) NSJ/SUP/INV October 15, 20312372-ST(2) 33.1200347893 1,920,791 0.9603955 (1) SC/PT/INV February 15, 2031D
A 1849-B(2) 100.0000000000 3,472,062 0.8677557 0.0 SC/PT/PO October 15, 2023B7 1849-S(2) 50.0172576211 26,032,671 0.8677557 (1) SC/NTL(PT)/INV/IO October 15, 2023D
(1) See applicable Multiclass Asset OÅering Circular.(2) These Classes are backed by previously issued REMIC and/or MACR Classes, as identiÑed in the applicable Multiclass Asset
OÅering Circulars.
See General Information Ì Structure of Transaction and Exhibits II through VII.
Mortgage Characteristics (as of November 1, 2001)
PC Assets Ì Assumed Mortgage Characteristics
Remaining Term Per Annumto Maturity Loan Age Per Annum Interest Rate
Asset Group Principal Balance (in months) (in months) Interest Rate of Related PCs
If you intend to purchase CertiÑcates, you shouldrely only on the information in this Supplement andthe OÅering Circular, including the information in $2,533,668,007the disclosure documents that we have incorporatedby reference. We have not authorized anyone toprovide you with diÅerent information.
This Supplement, the OÅering Circular and the in- Freddie Maccorporated documents may not be correct after theirdates.
We are not oÅering the CertiÑcates in any jurisdic-Multiclass CertiÑcates,tion that prohibits their oÅer.
Series 2483
TABLE OF CONTENTSDescription Page
OÅering Circular Supplement
Certain Risk Considerations ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-2Terms Sheet ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-3Available Information ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-10General InformationÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-10
The AgreementÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-10Form of CertiÑcates ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-11Structure of Transaction ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-11The Mortgages ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-12
Payments ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-12Payment Dates; Record Dates ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-12Method of Payment ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-12Categories of Classes ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-12InterestÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-12Principal ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-13Class FactorsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-14 WGuarantees ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-141% Clean-up Call ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-15Residual ProceedsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-15
Final Payment Dates ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-15General ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-15Guaranteed Maturity Class ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-15
Prepayment and Yield Analysis ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-16General ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-16 XPrepayment and Weighted Average Life ConsiderationsÏÏÏÏ S-17Declining Balances Table ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-20Yield Tables ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-27
Certain Federal Income Tax Consequences ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-30General ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-30Regular ClassesÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-30Residual Classes ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-31 YMACR ClassesÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-32Taxation of Call Class ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-32
Legal Investment Considerations ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-33ERISA ConsiderationsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-33Plan of Distribution ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-33Legal Matters ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-34Exhibit I Ì Redemption and Exchange ProceduresÏÏÏÏÏÏÏÏÏÏÏÏ S-35Exhibit II Ì Series 2449 Front Cover and Terms Sheet ÏÏÏÏÏÏÏ S-37Exhibit III Ì Series 2379 Front Cover and Terms SheetÏÏÏÏÏÏÏ S-50Appendix A Ì Available Combinations ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ A-1Appendix B Ì Balances Schedules ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ B-1
OÅering Circular Bear, Stearns & Co. Inc.Freddie Mac ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3Additional Information ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3SummaryÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 4Risk Factors ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 7Description of CertiÑcates ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 9MACR CertiÑcates ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 19Prepayment, Yield and Suitability Considerations ÏÏÏÏÏÏÏÏÏÏÏÏÏ 20The AgreementÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 27Certain Federal Income Tax Consequences ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 29ERISA ConsiderationsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 44Legal Investment Considerations ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 45Plan of Distribution ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 45 July 2, 2002Increase in Size ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 45Appendix I Ì Index of Terms ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ I-1Appendix II Ì Standard DeÑnitions and Abbreviations for
Classes ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ II-1Appendix III Ì MACR CertiÑcate Exchanges ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ III-1Appendix IV Ì Retail Class Principal PaymentsÏÏÏÏÏÏÏÏÏÏÏÏÏÏ IV-1Appendix V Ì Interest Rate Indices ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ V-1