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Fill and Sign the Dude Dude Dav30862 Connects Enrollment Form Pap

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PRICING SUPPLEMENT DATED July 18, 2000 (To Offering Circular dated December 30, 1999) US$500,000,000 Freddie Mac GLOBAL DEBT FACILITY 6.84% Debt Securities Due July 25, 2001 This Pricing Supplement relates to the Debt Securities of the Federal Home Loan Mortgage Corporation ("Freddie Mac") described below and should be read in conjunction with the Offering Circular dated December 30, 1999 (the "Offering Circular") and all documents incorporated by reference in the Offering Circular including Freddie Mac's Information Statement dated March 31, 2000 and any supplements to such Information Statement. Capitalized terms used in this Pricing Supplement and not otherwise defined in this Pricing Supplement have the meanings given to them in the Offering Circular. The Debt Securities are not suitable investments for all investors. In particular, no investor should purchase the Debt Securities unless the investor understands and is able to bear the yield, market and liquidity risks associated with the Debt Securities. See "Risk Factors - The Debt Securities May Not Be Suitable For You” in the Offering Circular. The Debt Securities are obligations of Freddie Mac only. The Debt Securities, including any interest or return of discount on the Debt Securities, are not guaranteed by, and are not debts or obligations of, the United States or any agency or instrumentality of the United States other than Freddie Mac. The Debt Securities are not tax-exempt. Non-U.S. owners generally will be subject to the United States federal income and withholding tax unless they establish an exemption. Because of applicable U.S. securities law exemptions, we have not registered the Debt Securities with any U.S. federal or state securities commission. No U.S. securities commission has reviewed the Offering Circular or this Pricing Supplement. Certain Debt Securities Terms 1. Title: 2. Form: ! Book-Entry Registered DTC Registered Debt Securities Global Registered Debt Securities 3. 6.84% Fixed Rate Debt Securities Due July 25, 2001 Specified Payment Currency: a. b. Specified Interest Currency: Specified Principal Currency: U.S. dollars U.S. dollars 4. Aggregate Original Principal Amount: $500,000,000 5. Issue Date: July 25, 2000 6. Denominations: $1,000, and additional increments of $1,000 7. Maturity Date: July 25, 2001 a. Amount Payable on the Maturity Date ! Fixed Principal Repayment Amount ! 100% of principal amount _____% of principal amount Variable Principal Repayment Amount 8. Subject to Redemption or Repayment Prior to Maturity Date ! No Yes Mandatory 9. Payment Terms of the Debt Securities: ! Fixed Rate Debt Securities Step Debt Securities Variable Rate Debt Securities Fixed/Variable Rate Debt Securities Zero Coupon Debt Securities r:\legal\ftso\debent\global3440Global#122.doc 2 10. Interest: a. Frequency of Interest Payments Annually ! Semiannually Quarterly Monthly Other: ____________ b. Interest Payment Dates: January 25 and June 25, commencing January 25, 2001. c. Interest rate per annum: d. Accrual Method (i.e., Day Count Convention): ! 30/360 Actual/360 Actual/365 (fixed) Actual/Actual 6.84% Additional Information Relating to the Debt Securities 1. Identification Number(s) a. b. c. d. 2. CUSIP: ISIN: Common Code: Other: 312902G29 US312902G293 11504221 Listing Application ! No Yes Luxembourg Stock Exchange Stock Exchange of Singapore Limited Other: ______________ 3. Governing Law The Debt Securities will be governed by the federal laws of the United States. The local laws of the State of New York will be deemed to reflect the federal laws of the United States, unless there is applicable precedent under federal law or the application of New York law would frustrate the purposes of the Freddie Mac Act or the Global Facility Agreement. r:\legal\ftso\debent\global3440Global#122.doc 3 Offering 1. Pricing Date: July 18, 2000 2. Method of Distribution: ! Principal 3. Dealer Agent Underwriting Commitment Morgan Stanley & Co., Incorporated Total. . . . . . . . . . . . . . . . . . . . . . . . . . . $500,000,000 $500,000,000 4. Offering Price: Fixed Offering Price: ! Variable Price Offering: The Dealer will purchase the Debt Securities from Freddie Mac at 99.96% of their principal amount plus accrued interest, if any, from the Issue Date. The Dealer proposes to offer the Debt Securities from time to time for sale in one or more negotiated transactions, or otherwise, at prices to be determined, in each case, at the time of sale. For further information with respect to the plan of distribution and any discounts, commissions or profits on resale that may be deemed underwriting discounts or commissions, see "Distribution Arrangements" in the Offering Circular. a. ! b. 5. ! Other: In connection with the issuance of the Debt Securities, Morgan Stanley & Co. Incorporated, or an affiliate, may receive compensation for entering into a related swap transaction. See “Distribution Arrangements - Additional Information” in the Offering Circular. Purchase Price to Dealer: 99.96% of principal amount Concession: N/A Reallowance: N/A Settlement 1. Settlement Date: 2. Settlement Basis ! Delivery versus payment Free delivery 3. Settlement Clearing System ! U.S. Federal Reserve Banks DTC ! Euroclear ! Cedelbank (Effective January 18, 2000, Cedelbank has changed its legal name to Clearstream Banking, société anonyme. See “Description of the Debt Securities - Clearance and Settlement” in the Offering Circular. r:\legal\ftso\debent\global3440Global#122.doc July 25, 2000 4 ! Other CERTAIN UNITED STATES FEDERAL TAX CONSEQUENCES The Medium-Term Notes are "Short-Term Debt Obligations." See "Certain United States Federal Tax Consequences - U.S. Owners - Debt Obligations With a Term of One Year or Less" in the Offering Circular. r:\legal\ftso\debent\global3440Global#122.doc 5

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