MCLEAN, VA--(Marketwired - Oct 6, 2015) - Freddie Mac (
K-S03 Pricing
| Class | Principal/Notional Amount (mm) | Weighted Average Life (Years) | Spread (bps) | Coupon | Yield | Dollar Price | |||||
| A-1 | $132.193 | 5.20 | S + 70 | 2.272% | 2.149% | $100.4986 | |||||
| A-2 | $383.189 | 6.69 | S + 77 | 2.790% | 2.449% | $101.9947 | |||||
| A-3 | $18.674 | 7.84 | S + 90 | 3.021% | 2.725% | $101.9936 | |||||
| A-4 | $306.835 | 9.21 | S + 95 | 3.161% | 2.907% | $101.9815 | |||||
| X | $934.324 | 7.31 | T+225 | 0.438% | 4.019% | $2.0656 | |||||
Details
- Lead Manager and Sole Bookrunner: Wells Fargo Securities, LLC
- Co-Managers: Merrill Lynch, Pierce, Fenner & Smith Incorporated, J. P. Morgan Securities LLC and Stern Brothers & Co.
- The K-S03 Certificates include four senior principal and interest classes and one interest only class, and are not rated.
- The K-S03 Certificates are backed by corresponding classes from the FREMF 2015-KS03 Mortgage Trust (KS03 Trust) and guaranteed by Freddie Mac. The KS03 Trust will also issue class B and R certificates, which will be subordinate to the classes backing the K-S03 Certificates and will not be guaranteed by Freddie Mac.
Related Links
- The K-S03 Preliminary Offering Circular Supplement: http://www.freddiemac.com/mbs/data/ks03oc.pdf
- Freddie Mac Multifamily Investor Presentation
- Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages
Freddie Mac Multifamily sources its seniors housing loans from a select group of experienced multifamily lenders with extensive experience in the seniors housing market. Freddie Mac purchases a variety of seniors housing loans including those backed by independent living properties, assisted living properties, memory care properties and senior properties with a limited amount of skilled nursing care. Freddie Mac purchased $1.2 billion in seniors housing mortgages in 2014.
Freddie Mac Multifamily is a leading issuer of agency-guaranteed structured multifamily securities. K-Deals are part of the company's business strategy to transfer a portion of the risk of losses away from taxpayers and to private investors who purchase the unguaranteed subordinate bonds. K Certificates typically feature a wide range of investor options with stable cash flows and structured credit enhancement.
This announcement is not an offer to sell any Freddie Mac securities. Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac's Annual Report on Form 10-K for the year ended December 31, 2014, filed with the Securities and Exchange Commission (SEC) on February 19, 2015; all other reports Freddie Mac filed with the SEC pursuant to Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) since December 31, 2014, excluding any information "furnished" to the SEC on Form 8-K; and all documents that Freddie Mac files with the SEC pursuant to Sections 13(a), 13(c) or 14 of the Exchange Act, excluding any information furnished to the SEC on Form 8-K.
Freddie Mac's press releases sometimes contain forward-looking statements. A description of factors that could cause actual results to differ materially from the expectations expressed in these and other forward-looking statements can be found in the company's Annual Report on Form 10-K for the year ended December 31, 2014, and its reports on Form 10-Q and Form 8-K, filed with the SEC and available on the Investor Relations page of the company's Web site at www.FreddieMac.com/investors and the SEC's Web site at www.sec.gov.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.