Freddie Mac 2015 Annual Report Download - page 263

Financial Statements Notes to the Consolidated Financial Statements | Note 7
Freddie Mac 2015 Form 10-K 261
OTHER LONG-TERM DEBT
The table below summarizes our other long-term debt.
December 31, 2015 December 31, 2014
(dollars in millions) Contractual Maturity Par Value Carrying Amount
Weighted
Average
Effective
Rate Par Value Carrying Amount
Weighted
Average
Effective
Rate
Other long-term debt:
Other senior debt:
Fixed-rate:
Medium-term notes — callable 2016 - 2037 $ 90,744 $ 90,754 1.47% $ 98,860 $ 98,856 1.35%
Medium-term notes — non-callable 2016 - 2028 16,033 16,351 0.92 20,059 20,383 0.86
Reference Notes securities — non-
callable 2016 - 2032 137,201 137,267 2.60 151,701 151,751 2.80
Variable-rate:
Medium-term notes — callable 2017 - 2030 15,931 15,931 2.11 7,210 7,210 2.00
Medium-term notes — non-callable 2016 - 2026 23,697 23,697 0.21 23,971 23,971 0.19
STACR 2023 - 2028 11,551 11,503 3.60 5,896 5,820 3.16
Zero-coupon:
Medium-term notes — callable 2037 1,000 280 6.17 1,000 264 6.17
Medium-term notes — non-callable 2016 - 2039 7,343 4,293 3.58 10,109 6,739 2.53
Other 2052 - 2055 335 198 5.93 — —
Hedging-related basis adjustments N/A 17 N/A 34
Total other senior debt 303,835 300,291 318,806 315,028
Other subordinated debt:
Fixed-rate 2016 - 2018 221 219 6.61 221 219 6.60
Zero-coupon 2019 332 224 10.51 332 203 10.51
Total other subordinated debt 553 443 553 422
Total other long-term debt $ 304,388 $ 300,734 2.02% $ 319,359 $ 315,450 2.02%
A portion of our other long-term debt is callable. Callable debt gives us the option to redeem the debt
security at par on one or more specified call dates or at any time on or after a specified call date.
The table below summarizes the contractual maturities of other long-term debt securities at December 31,
2015.
(in millions) Par Value
Annual Maturities
Other long-term debt:
2016 $ 58,765
2017 91,543
2018 48,189
2019 31,352
2020 26,697
Thereafter 47,842
Debt securities of consolidated trusts held by third parties(1) 1,513,089
Total 1,817,477
Net discounts, premiums, hedge-related and other basis adjustments(2) 39,378
Total debt securities of consolidated trusts held by third parties and other long-term debt $ 1,856,855
(1) Contractual maturities of debt securities of consolidated trusts held by third parties are not presented because they are
prepayable at any time without penalty.
(2) Other basis adjustments primarily represent changes in fair value attributable to instrument-specific credit risk.