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FANNIE MAE ISSUES DEBENTURE PRICING

 FANNIE MAE ISSUES DEBENTURE PRICING
 WASHINGTON, Sept. 1 /PRNewswire/ -- The Federal National Mortgage


Association (Fannie Mae) (NYSE: FNM) issued the following debenture pricing:
 Date of Offering: Sept. 2, 1992
 Series: SM-1997-R SM-2002-I
 Price: 99.8125 pct. 99.78125
 Issue Date: Sept. 10, 1992
 Term: 5 years 10 years
 Callable on or after: 9/11/95 9/10/97
 Interest Rate: 5.70 pct. 6.95 pct.
 Yield: 5.744 pct. 6.981 pct.
 Amount (millions): $700 $600
 Maturity Date: 9/11/97 9/10/02
 CUSIP: 3135865P0 3135865Q8
 Date of First
 Interest Payment
 (then semi-annually): 3/11/93 3/10/93
 The debentures of Sept. 11, 1997, are redeemable on or after Sept. 11, 1995, and the debentures of Sept. 10, 2002, are redeemable on or after Sept. 10, 1997. The debentures are redeemable in whole or in part at the option of the corporation at any time (and from time to time) on or after the initial redemption date at a redemption price of 100 percent of the principal amount redeemed plus accrued interest thereon to the date of redemption.
 The net proceeds of this offering will be used to redeem the $860,000,000 of Series SM-1992-L, 9.15 percent debentures due Sept. 10, 1992, and added to the working capital of the Federal National Mortgage Association and used for general corporate purposes.
 Debentures will be issued in book-entry form only. The minimum purchase is $10,000 and multiples of $5,000 thereafter. The offering is being made through Fannie Mae's senior vice president-finance and treasurer, Gary L. Perlin, and vice president and assistant treasurer, Linda K. Knight, 3900 Wisconsin Ave. N.W., Washington, D.C. 20016, assisted by a nationwide selling group of recognized securities dealers.
 The issues that are offered on Sept. 3, 1992, will be free to trade at 8:20 a.m. EDT.
 -0- 9/1/92
 /CONTACT: Gene Eisman of Fannie Mae, 202-752-6673/
 (FNM) CO: Fannie Mae ST: District of Columbia IN: FIN SU:


DC -- DC010 -- 5477 09/01/92 13:49 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Sep 1, 1992
Words:340
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/C O R R E C T I O N -- FANNIE MAE/

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