| Pricing Supplement Dated November 01, 2000 |
| (To Offering Circular dated December 21, 1999) |
Benchmark BondsSM
| This Pricing Supplement relates to the Debt Securities
described below (the "Bonds"). 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 Bonds, 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: |
|
6.625% Bonds Due November 15, 2030 |
| 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: |
|
$2,000,000,000.00 |
| 5. |
|
Issue Date: |
|
November 03, 2000 |
| 6. |
|
Maturity Date: |
|
November 15, 2030 |
|
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 |
______________
"Benchmark Bonds" is a service mark of Fannie Mae.
|
b. |
|
Interest Payment Dates: |
|
the 15th day of each May and November |
|
c. |
|
First Interest Payment Date: |
|
May 15, 2001 |
|
d. |
|
Interest rate per annum: |
|
6.625% |
| Additional Information Relating to the Bonds |
| 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
Bonds from time to time without the consent of any Holder of a Bond, by
issuing additional Bonds 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 Bonds 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 Bonds 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 Bonds
are in our sole discretion. We cannot assure you that we will reopen this
issue of Bonds or, if reopened, what the total issue size will be. |
| 1. |
|
Pricing Date: |
|
November 01, 2000 |
| 2. |
|
Method of Distribution: |
|
X Principal |
|
__ Non-underwritten |
| 3. |
|
Dealers |
|
Underwriting Commitment |
|
Lehman Brothers Inc. |
|
$ 556,000,000 |
|
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
|
516,000,000 |
|
|
Salomon Smith Barney Inc. |
|
593,000,000 |
|
|
ABN AMRO Incorporated |
|
40,000,000 |
|
|
Bear, Stearns & Co. Inc. |
|
40,000,000 |
|
|
Credit Suisse First Boston Corporation |
|
60,000,000 |
|
|
Goldman, Sachs & Co. |
|
40,000,000 |
|
|
HSBC Securities (USA) Inc. |
|
70,000,000 |
|
|
J.P. Morgan Securities Inc. |
|
45,000,000 |
|
|
Morgan Stanley & Co. Incorporated |
|
40,000,000 |
|
|
a. |
|
Representative(s): |
|
Lehman Brothers Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Salomon Smith Barney Inc. |
|
b. |
|
Stabilizing Manager: |
|
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
|
X |
|
Fixed Offering Price: 98.688% of principal amount,
plus accrued interest, if any, from the Settlement Date |
|
__ |
|
Variable Price Offering |
| 5. |
|
Dealer Purchase Price: 98.413% of principal amount |
| 1. |
|
Settlement Date: |
|
November 03, 2000 |
| 2. |
|
Settlement Basis: |
|
delivery versus payment |
| 3. |
|
Settlement Clearing System: |
|
U.S. Federal Reserve Banks |
|