SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
November 22, 1996
Farmer Mac Mortgage Securities Corporation
(Exact Name of Registrant as Specified in its Charter)
Delaware 333-6325 52-1779791
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
919 18th Street, N.W. 20006
Washington, DC (Zip Code)
(Address of Principal
Executive Offices)
Registrant's telephone number, including area code (202) 872-7700
No Change
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 5. Other Events
Attached as Exhibit 99.1 to this Current Report are certain materials (the
"Computational Materials") furnished to the Registrant by Bear, Stearns & Co.
Inc. (the "Underwriter") in respect of Guaranteed Agricultural Mortgage-Backed
Securities Series 11/26/96 (the "Certificates"). The Certificates are being
offered pursuant to a Prospectus Supplement, dated November 21, 1996, which is
being filed with the Commission pursuant to Rule 424(b) under the Securities Act
of 1933, as amended (the "Act"), and a Prospectus, dated June 26, 1996, which
has previously been filed with the Commission pursuant to Rule 424(b) under the
(the "Act"). The Certificates have been registered pursuant to the Act under a
Registration Statement on Form S-3 (No. 333-6325) (the "Registration
Statement"). The Computational Materials are incorporated by reference in the
Registration Statement.
The Computational Materials were prepared solely by the Underwriter, and
the Registrant did not prepare or participate (other than providing the
background information concerning the underlying pool of assets upon which the
Computational Materials are based to the Underwriter) in the preparation of the
Computational Materials.
Any statements or information contained in the Computational Materials
shall be deemed to be modified or superseded for purposes of the prospectus and
the Registration Statement by statements or information contained in the
Prospectus.
Item 7. Financial Statements; Pro Forma Financial Information and
Exhibits
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Computational Materials.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FARMER MAC MORTGAGE SECURITIES
CORPORATION
By:/s/ Nancy E. Corsiglia
Name: Nancy E. Corsiglia
Title: Vice President
Dated: November 25, 1996
EXHIBIT INDEX
Exhibit No. Description Page No.
99.1 Computational Materials
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EXHIBIT 99.1
Computational Materials
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Bear Stearns & Co November 22, 1996
yap CTSX REPORT 9:10 AM EST
Page 1 of 1
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FM1196-AA103 Class A ( ) ANNUAL
Orig Bal 3,881,700 Fac 1.00000 #Coup 8.016 Mat 01/01/12 Wac-0.000
(0.000) WAM- / (-22763)
Price/Yield View Fact Thru 09/9999 Hist Coupons
Settlement Date 29-Nov-1996 Curve Date 25-November-1996
Tranche A( )
----------------------------------------------
0% CPP prepay
Price 12.68 Avg. Life
01/98 1st Prin Last
01/12 Prin
<S> <C> <C>
------------------------------------------------
105:18 7.122 Yield
8.02 Duration
105:22 7.107 Yield
8.02 Duration
105:26 7.092 Yield
8.02 Duration
105:30 7.078 Yield
8.03 Duration
106: 2 7.063 Yield
8.03 Duration
106: 6 7.084 Yield
8.04 Duration
106:10 7.034 Yield
8.04 Duration
106:14 7.019 Yield
8.04 Duration
----------------------------------------------
</TABLE>
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates, and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed the Statement. You may obtain
a copy of the Statement from your sales representative.
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<TABLE>
<CAPTION>
Bear Stearns & Co November 22, 1996
yap CTSX REPORT 9:02 AM EST
Page 1 of 1
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FM1196-AS104 Class A ( ) SEMIANNUAL PMTS Orig Bal 6,002,400
Fac 1.00000 Coup 7.857 Mat 01/01/12 Wac-0.000
(0.000) WAM- / (-22763)
Price/Yield View Fact Thru 09/9999 Hist Coupons
Settlement Date 29-Nov-1996 Curve Date 25-Nov-1996 Tranche A( )
----------------------------------------------
0% CPP prepay
Price 12.13 Avg. Life
07/97 1st Prin
01/12 Last Prin
<S> <C> <C>
105: 3 7.127 Yield
7.62 Duration
105: 7 7.111 Yield
7.62 Duration
105:11 7.096 Yield
7.63 Duration
105:15 7.080 Yield
7.63 Duration
105:19 7.065 Yield
7.63 Duration
105:23 7.050 Yield
7.64 Duration
105:27 7.034 Yield
7.64 Duration
105:31 7.019 Yield
7.65 Duration
----------------------------------------------
</TABLE>
This information should be considered only after reading Bear Stearns' Statement
Regarding Assumptions as to Securities, Pricing Estimates, and Other Information
(the "Statement"), which should be attached. Do not use or rely on this
information if you have not received and reviewed the Statement. You may obtain
a copy of the Statement from your sales representative.
