Fannie Mae-No Politics (FNMA)

[The Man With No Name]

See below, callable preffered.

The pref holders might be put in a catch 22....If they call the shares before Lamberth's court presides on a decision (back dividends), those who sell lose anything that might be positive out of his court. On the other hand, if they don't follow through and give up their called shares, and then Lamberth screws the case, God only knows what that outcome is. One thing is for sure, this is their conversion! Lol

And your point is what? The preferreds only get face? Bring it on.

This is the P series (FNMAH):

Fannie Mae, Variable Rate Non-Cumulative Preferred Stock, Series P, liquidation preference $25 per share, redeemable at the issuer's option on or after 9/30/2012 at $25 per share plus declared and unpaid dividends, and with no stated maturity. Variable rate noncumulative distributions are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the date fixed by the board, not more than 45 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). 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. The dividend rate will reset quarterly on the second business day prior to the beginning of a new dividend period and shall be the greater of 4.50% or the sum of the 3-Month LIBOR plus 0.75%. The initial dividend rate is 5.9481%.