Range Accrual Notes

Fannie Mae's range accrual notes are debt securities that allow investors to structure a note that will earn a specified coupon rate when the index remains within a certain range. This stated coupon rate is typically greater than an investor would earn on a fixed-rate security to compensate the investor for interest rate risk. For more information, please see the Pricing Supplements provided below:

Pricing Supplement, May 15, 2007 (CUSIP 31398ACB6)  

Page last revised:  10/26/12