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Security Details
- Coupon Rate
- —
- Liquidation Preference
- $50.00
- Call Price
- $50.00
- Call / Redemption Date
- 9/30/2003
- Maturity Date
- None
- Distribution Period
- Q
- Rate Type
- Variable
- Annual Distribution
- Distribution Dates
- 3/31, 6/30, 9/30 & 12/31
- Credit Ratings
- Moody's Ca · S&P D (2/20/2024)
- Tax-Advantaged Dividends
- Yes
Security Profile
Security's distribution is suspended.
- CUSIP
- 313400848
- Market Cap
- Small Cap · $207 Million
- IPO
- 9/23/1998 · $50.00/share
- Previous Symbol
- FRE-G (changed 7/7/2010)
- Parent Company
- Freddie Mac (FMCC)
Business: Freddie Mac (Federal Home Loan Mortgage Corp.), 1998 Variable Rate Noncumulative Perpetual Preferred Stock, liquidation preference $50 per share, redeemable at the issuer's option on or after 9/30/2003 at $50 per share plus declared and unpaid dividends, and with no stated maturity. Variable rate noncumulative distributions are reset quarterly and paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on approximately the 15th day of the month in which the payment is made (NOTE: the ex-dividend date is one business day prior to the record date). The dividend rate resets quarterly and is equal to the sum of the three-month LIBOR rate plus one percent divided by 1.377, and is capped at 7.50 percent. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Company Contact
- CEO
- Michael DeVito
- CFO
- Christian M. Lown
- Headquarters
- 8200 Jones Branch Drive, MS 486, McLean, VA 22102
- Phone
- 703-903-2000 · Toll-Free 800-373-3343
- Fax
- 703-903-2759
- Investor Relations
- Laurie Garthune · 571-382-4732 · shareholder@freddiemac.com