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CORRECTION TO FREDDIE MAC AND PRUDENTIAL SECURITIES DEBT ISSUE AND MORTGAGE PURCHASE TRANSACTION

 /C O R R E C T I O N -- PRUDENTIAL SECURITIES/
 In NY076, Freddie Mac and Prudential Securities Debt Issue and


Mortgage Purchase Transaction, moved yesterday, in third paragraph first line should read -- "The medium-term note structure" and end of second line should read "analytics driven by the"...
 The corrected release follows:
 NEW YORK, Aug. 14 /PRNewswire/ -- Prudential Securities, the third largest brokerage firm, announced today that the company is lead manager of $1 billion of medium-term notes of Freddie Mac, a stockholder-owned corporation chartered by Congress in 1970 to provide continuous flow of funds to mortgage lenders. Lehman Brothers and PaineWebber are co- managers on the deal.
 Under the terms of the transaction, Freddie Mac will issue approximately $1 billion of debt through its medium-term note program. The transaction will involve 17 different debt issues, with maturities ranging from 6 months to 30 years. Simultaneously, Freddie Mac will purchase $1 billion in participation certificates from Prudential Securities. The securities will be backed by mortgages with a variety of coupons and delivery months.
 The medium-term note structure incorporated a series of callable and bullet maturities that was determined optimal via proprietary analytics driven by the melding of the Prudential Securities Prepayment Model and the Debenture Optimization Model.
 Prudential Securities Incorporated is a fully diversified global securities firm headquartered in New York City. The firm is the third largest full-service brokerage concern in the United States.
 -0- 8/15/92


CO: Prudential Securities ST: New York IN: FIN SU:

JP -- NYSA003 -- 0303 08/15/92 13:11 EDT
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Publication:PR Newswire
Date:Aug 15, 1992
Words:258
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