CORRECTION -- Freddie Mac

MCLEAN, Va., May 06, 2021 (GLOBE NEWSWIRE) -- In a release issued under the headline "Freddie Mac Prices $773 Billion Multifamily K-Deal, K-742" on May 5, 2021, by Freddie Mac (OTCQB: FMCC), please note that the headline and first paragraph should read "$773 Million" rather than "$773 Billion" as previously stated. The corrected release follows:

Freddie Mac Prices $773 Million Multifamily K-Deal, K-742

Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are backed by underlying collateral consisting of fixed-rate multifamily mortgages with predominantly 7-year terms. The company expects to issue approximately $773 million in K Certificates (K-742 Certificates), which are expected to settle on or about May 13, 2021.

K-742 Pricing

Class	Principal/Notional Amount (mm)		Weighted Average Life (Years)	Spread (bps)	Coupon	Yield	Dollar Price
A-1	$185.300		4.63	S+2	0.8610%	0.8504%	$99.9974
A-2	$497.975		6.74	S+6	1.7600%	1.2807%	$102.9971
A-M	$89.849		6.90	S+11	1.3690%	1.3591%	$99.9995
X-1	$683.275		5.93	T+45	0.8691%	1.4668%	$4.2993
X-AM	Non-Offered
X-3	$62.686		6.70	T+210	2.6853%	3.2933%	$15.7458

Details

• Co-Lead Managers and Joint Bookrunners: J.P. Morgan Securities LLC and Barclays Capital Inc.
• Co-Managers: Brownstone Investment Group, LLC, Cantor Fitzgerald & Co., Morgan Stanley & Co. LLC and Stern Brothers & Co.
• Rating Agencies: Fitch Ratings, Inc. and DBRS, Inc.
  

Related Links

• The K-742 Preliminary Offering Circular Supplement: http://www.freddiemac.com/mbs/data/k742oc.pdf
• Freddie Mac Multifamily Securitization Overview
• Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages
• More information about Class A-M and Class XAM

The K-742 Certificates are backed by corresponding classes issued by the FREMF 2021-K742 Mortgage Trust (K-742 Trust) and guaranteed by Freddie Mac. The K-742 Trust will also issue certificates consisting of Class X2-A, Class X2-B, Class D and Class R Certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-742 Certificates.