| Pricing Supplement Dated June 07, 2000 |
| (To Offering Circular dated December 21, 1999) |
Benchmark NotesSM
| This Pricing Supplement relates to the Debt Securities
described below (the "Notes"). You should read it together with the Offering
Circular dated December 21, 1999 (the "Offering Circular"), relating to
the Universal Debt Facility of the Federal National Mortgage Association
("Fannie Mae"). Unless defined below, capitalized terms have the meanings
we gave to them in the Offering Circular. |
| The Notes, together with interest thereon, are not
guaranteed by the United States and do not constitute a debt or obligation
of the United States or of any agency or instrumentality thereof other
than Fannie Mae. |
| 1. |
|
Title: |
|
7.125% Notes Due June 15, 2010 |
| 2. |
|
Form: |
|
Fed Book-Entry Securities |
| 3. |
|
Specified Payment Currency |
|
|
|
a. |
|
Interest: |
|
U.S. dollars |
|
b. |
|
Principal: |
|
U.S. dollars |
| 4. |
|
Aggregate Original Principal Amount: |
|
$3,000,000,000.00 |
| 5. |
|
Issue Date: |
|
June 09, 2000 |
| 6. |
|
Maturity Date: |
|
June 15, 2010 |
|
Amount Payable on the Maturity Date: |
|
100.00% of principal amount |
| 7. |
|
Subject to Redemption Prior to Maturity Date |
|
|
| 8. |
|
Interest Category: |
|
Fixed Rate Securities |
|
a. |
|
Frequency of Interest Payments: |
|
Semiannually |
|
b. |
|
Interest Payment Dates: |
|
the 15th day of each June and December |
|
c. |
|
First Interest Payment Date: |
|
December 15, 2000 |
|
d. |
|
Interest rate per annum: |
|
7.125% |
______________
"Benchmark Notes" is a service mark of Fannie Mae.
| Additional Information Relating to the Notes |
| 1. |
|
Identification Number(s) |
|
__ No |
|
X Yes:
Luxembourg Stock Exchange |
| 3. |
|
Eligibility for Stripping on the Issue Date |
|
X Minimum Principal Amount: $1,600,000 |
|
4. |
|
Reopenings - We may increase the size of this issue of
Notes from time to time without the consent of any Holder of a Note, by
issuing additional Notes with the same terms (other than the date of issuance,
interest commencement date and offering price, which may vary). We hope
to reopen this issue of Notes one or more times within six months of the
Settlement Date to increase the size and liquidity of the issue. We intend
to reopen this issue of Notes during that six-month period in any month
when there is requisite investor demand and the reopening is consistent
with our funding needs and overall market conditions. The evaluation of
these criteria and, consequently, the decision whether to reopen the Notes
are in our sole discretion. We cannot assure you that we will reopen this
issue of Notes or, if reopened, what the total issue size will be. |
| 1. |
|
Pricing Date: |
|
June 07, 2000 |
| 2. |
|
Method of Distribution: |
|
X Principal |
|
__ Non-underwritten |
| 3. |
|
Dealers |
|
Underwriting Commitment |
|
Bear, Stearns & Co. Inc. |
|
$ 828,000,000 |
|
|
Credit Suisse First Boston Corporation |
|
828,000,000 |
|
|
J.P. Morgan Securities Inc. |
|
829,000,000 |
|
|
ABN-AMRO Incorporated |
|
65,000,000 |
|
|
First Tennessee Bank National Association |
|
50,000,000 |
|
|
Goldman, Sachs & Co. |
|
50,000,000 |
|
|
HSBC Securities (USA) Inc. |
|
90,000,000 |
|
|
Lehman Brothers Inc. |
|
60,000,000 |
|
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
|
50,000,000 |
|
|
Morgan Stanley & Co. Incorporated |
|
65,000,000 |
|
|
Salomon Smith Barney Inc. |
|
85,000,000 |
|
|
a. |
|
Representatives: |
|
Bear, Stearns & Co. Inc.
Credit Suisse First Boston Corporation
J.P. Morgan Securities Inc. |
|
b. |
|
Stabilizing Manager: |
|
J.P. Morgan Securities Inc. |
|
X |
|
Fixed Offering Price: 99.357%, plus accrued interest,
if any, from the Settlement Date |
|
__ |
|
Variable Price Offering |
| 5. |
|
Dealer Purchase Price: 99.207% of principal amount |
| 1. |
|
Settlement Date: |
|
June 09, 2000 |
| 2. |
|
Settlement Basis: |
|
Delivery versus payment |
| 3. |
|
Settlement Clearing System: |
|
U.S. Federal Reserve Banks |
|