Freddie Mac 2015 Annual Report Download - page 279

Financial Statements Notes to the Consolidated Financial Statements | Note 10
Freddie Mac 2015 Form 10-K 277
The table below provides a summary of our preferred stock outstanding at their redemption values at
December 31, 2015.
(in millions, except
redemption price per
share) Issue Date Shares Authorized Shares Outstanding Total Par Value
Redemption
Price per
Share
Total
Outstanding
Balance Redeemable On or After OTCQB Symbol
Preferred stock:
1996 Variable-rate(1) April 26, 1996 5.00 5.00 $ 5.00 $ 50.00 $ 250 June 30, 2001 FMCCI
5.81% October 27, 1997 3.00 3.00 3.00 50.00 150 October 27, 1998 (2)
5% March 23, 1998 8.00 8.00 8.00 50.00 400 March 31, 2003 FMCKK
1998 Variable-rate(3) September 23 and 29, 1998 4.40 4.40 4.40 50.00 220 September 30, 2003 FMCCG
5.10% September 23, 1998 8.00 8.00 8.00 50.00 400 September 30, 2003 FMCCH
5.30% October 28, 1998 4.00 4.00 4.00 50.00 200 October 30, 2000 (2)
5.10% March 19, 1999 3.00 3.00 3.00 50.00 150 March 31, 2004 (2)
5.79% July 21, 1999 5.00 5.00 5.00 50.00 250 June 30, 2009 FMCCK
1999 Variable-rate(4) November 5, 1999 5.75 5.75 5.75 50.00 287 December 31, 2004 FMCCL
2001 Variable-rate(5) January 26, 2001 6.50 6.50 6.50 50.00 325 March 31, 2003 FMCCM
2001 Variable-rate(6) March 23, 2001 4.60 4.60 4.60 50.00 230 March 31, 2003 FMCCN
5.81% March 23, 2001 3.45 3.45 3.45 50.00 173 March 31, 2011 FMCCO
6% May 30, 2001 3.45 3.45 3.45 50.00 173 June 30, 2006 FMCCP
2001 Variable-rate(7) May 30, 2001 4.02 4.02 4.02 50.00 201 June 30, 2003 FMCCJ
5.70% October 30, 2001 6.00 6.00 6.00 50.00 300 December 31, 2006 FMCKP
5.81% January 29, 2002 6.00 6.00 6.00 50.00 300 March 31, 2007 (2)
2006 Variable-rate(8) July 17, 2006 15.00 15.00 15.00 50.00 750 June 30, 2011 FMCCS
6.42% July 17, 2006 5.00 5.00 5.00 50.00 250 June 30, 2011 FMCCT
5.90% October 16, 2006 20.00 20.00 20.00 25.00 500 September 30, 2011 FMCKO
5.57% January 16, 2007 44.00 44.00 44.00 25.00 1,100 December 31, 2011 FMCKM
5.66% April 16, 2007 20.00 20.00 20.00 25.00 500 March 31, 2012 FMCKN
6.02% July 24, 2007 20.00 20.00 20.00 25.00 500 June 30, 2012 FMCKL
6.55% September 28, 2007 20.00 20.00 20.00 25.00 500 September 30, 2017 FMCKI
2007 Fixed-to-
floating rate(9) December 4, 2007 240.00 240.00 240.00 25.00 6,000 December 31, 2012 FMCKJ
Total, preferred
stock 464.17 464.17 $ 464.17 $ 14,109
(1) Dividend rate resets quarterly and is equal to the sum of three-month LIBOR plus 1% divided by 1.377, and is capped at
9.00%.
(2) Issued through private placement.
(3) Dividend rate resets quarterly and is equal to the sum of three-month LIBOR plus 1% divided by 1.377, and is capped at
7.50%.
(4) Dividend rate resets on January 1 every five years after January 1, 2005 based on a five-year Constant Maturity Treasury
rate, and is capped at 11.00%. Optional redemption on December 31, 2004 and on December 31 every five years thereafter.
(5) Dividend rate resets on April 1 every two years after April 1, 2003 based on the two-year Constant Maturity Treasury rate plus
0.10%, and is capped at 11.00%. Optional redemption on March 31, 2003 and on March 31 every two years thereafter.
(6) Dividend rate resets on April 1 every year based on 12-month LIBOR minus 0.20%, and is capped at 11.00%. Optional
redemption on March 31, 2003 and on March 31 every year thereafter.
(7) Dividend rate resets on July 1 every two years after July 1, 2003 based on the two-year Constant Maturity Treasury rate plus
0.20%, and is capped at 11.00%. Optional redemption on June 30, 2003 and on June 30 every two years thereafter.
(8) Dividend rate resets quarterly and is equal to the sum of three-month LIBOR plus 0.50% but not less than 4.00%.
(9) Dividend rate is set at an annual fixed rate of 8.375% from December 4, 2007 through December 31, 2012. For the period
beginning on or after January 1, 2013, dividend rate resets quarterly and is equal to the higher of: (a) the sum of three-month
LIBOR plus 4.16% per annum; or (b) 7.875% per annum. Optional redemption on December 31, 2012, and on December 31
every five years thereafter.