Freddie Mac Prices $729 million Multifamily K-Deal, K-1515

MCLEAN, Va., June 11, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. The company expects to issue approximately $729 million in K Certificates (K-1515 Certificates), which are expected to settle on or about June 19, 2020.

K-1515 Pricing

Class	Principal/Notional Amount (mm)		Weighted Average Life (Years)	Spread (bps)	Coupon		Yield		Dollar Price
A-1	$105.800		9.64	S + 65	1.43300	%	1.42753	%	$ 99.9912
A-2	$624.152		14.40	S + 75	1.94000	%	1.70096	%	$ 102.9996
X1	$729.952		13.22	T + 385	1.51326	%	4.76129	%	$ 14.9170
X3	$59.186		14.43	T + 675	3.67977	%	7.72862	%	$ 32.3922

Details

• Co-Lead Managers and Joint Bookrunners: J.P. Morgan Securities LLC and PNC Capital Markets LLC
• Co-Managers: Barclays Capital Inc., CastleOak Securities, L.P., Mizuho Securities USA LLC and Morgan Stanley & Co. LLC

Related Links

• The K-1515 Preliminary Offering Circular Supplement: http://www.freddiemac.com/mbs/data/k1515oc.pdf
• Freddie Mac Multifamily Securitization Overview
• Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages

The K-1515 Certificates are backed by corresponding classes issued by the FREMF 2020-K1515 Mortgage Trust (K-1515 Trust) and guaranteed by Freddie Mac. The K-1515 Trust will also issue certificates consisting of the Class X2-A, Class X2-B, Class C and Class R Certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-1515 Certificates.