WASHINGTON -Fannie Mae priced $4.5 billion of 7% five-year Benchmark notes on Wednesday, reopening its July 15 issue, which now totals $10 billion.

The lead managers on the deal are Credit Suisse First Boston, J.P. Morgan Securities Inc., and Salomon Smith Barney Inc. The price for the bonds has been set at $101.175, and the yield is 6.708%, at a spread of 76 basis points over five-year Treasury notes.

The offering is listed on the Luxembourg Stock Exchange.

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