Fannie Mae 2010 Annual Report Download - page 362

Preferred Stock
The following table displays our senior preferred stock and preferred stock outstanding as of December 31,
2010 and 2009.
Title Issue Date Shares Amount Shares Amount
Stated
Value
per share
Annual
Dividend
Rate as of
December 31,
2010
Redeemable on
or After
2010 2009
Issued and Outstanding as of
December 31,
(Dollars and shares in millions, except per share amounts)
Senior Preferred Stock
Series 2008-2 . ........... September 8, 2008 1 $88,600 1 $60,900 $ 88,600
(1)
10.000%
(2) (3)
Total . ................ 1 $88,600 1 $60,900
Preferred Stock
Series D ............... September 30, 1998 3 $ 150 3 $ 150 $ 50 5.250% September 30, 1999
Series E ............... April 15, 1999 3 150 3 150 50 5.100 April 15, 2004
Series F ............... March 20, 2000 14 690 14 690 50 0.890
(4)
March 31, 2002
(5)
Series G ............... August 8, 2000 6 288 6 288 50 0.270
(6)
September 30, 2002
(5)
Series H ............... April 6, 2001 8 400 8 400 50 5.810 April 6, 2006
Series I ................ October 28, 2002 6 300 6 300 50 5.375 October 28, 2007
Series L ............... April 29, 2003 7 345 7 345 50 5.125 April 29, 2008
Series M ............... June 10, 2003 9 460 9 460 50 4.750 June 10, 2008
Series N ............... September 25, 2003 5 225 5 225 50 5.500 September 25, 2008
Series O ............... December 30, 2004 50 2,500 50 2,500 50 7.000
(7)
December 31, 2007
Convertible
Series 2004-1
(8)
......... December 30, 2004 — 2,492 — 2,492 100,000 5.375 January 5, 2008
Series P ............... September 28, 2007 40 1,000 40 1,000 25 4.500
(9)
September 30, 2012
Series Q ............... October 4, 2007 15 375 15 375 25 6.750 September 30, 2010
Series R
(10)
............. November 21, 2007 21 530 21 530 25 7.625 November 21, 2012
Series S ............... December 11, 2007 280 7,000 280 7,000 25 7.750
(11)
December 31, 2010
(12)
Mandatory
Convertible
Series 2008-1 .......... May14,2008 21 1,074 24 1,218 50 8.750 N/A
Series T
(13)
............. May19,2008 89 2,225 89 2,225 25 8.250 May 20, 2013
Total ................ 577 $20,204 580 $20,348
(1)
Initial Stated Value per share was $1,000. Based on our draws of funds under the Senior Preferred Stock Variable
Liquidation Preference agreement with Treasury, the Stated Value per share on December 31, 2010 was $88,600.
(2)
Rate effective September 9, 2008. If at any time we fail to pay cash dividends in a timely manner, then immediately
following such failure and for all dividend periods thereafter until the dividend period following the date on which
we have paid in cash full cumulative dividends (including any unpaid dividends added to the liquidation preference),
the dividend rate will be 12% per year.
(3)
Any liquidation preference of our senior preferred stock in excess of $1.0 billion may be repaid through an issuance
of common or preferred stock. The initial $1.0 billion investment may be repaid only in conjunction with termination
of the senior preferred stock purchase agreement. The provisions for termination under the senior preferred stock
purchase agreement are very restrictive and cannot occur while we are in conservatorship.
(4)
Rate effective March 31, 2010. Variable dividend rate resets every two years at a per annum rate equal to the two-
year Maturity U.S. Treasury Rate (“CMT”) minus 0.16% with a cap of 11% per year. As of December 31, 2010, the
annual dividend rate was 0.89%.
F-104
FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)