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Rule 424(b)(3)
Registration No. 333-78931
CUSIP# 63743HCS9
PRICING SUPPLEMENT NO. 2438 DATED SEPTEMBER 3, 1999
TO PROSPECTUS SUPPLEMENTAL DATED JUNE 7, 1999
AND BASE PROSPECTUS DATED JUNE 4, 1999
NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
Medium-Term Notes, Series C
With Maturities of Nine Months or More from Date of Issue
Floating Rate Notes
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<S> <C>
Issuer: National Rural Utilities CFC
Principal Amount: $200,000,000.00
Issue Price: 100% of Principal Amount
Original Issue Date: 09/08/1999
Maturity Date: 09/08/2000
Initial Interest Rate: Determined as described below
Base Rate: Prime
Spread: Minus 269 basis points
Index Maturity: Daily
Interest Payment Dates: On the 8th of each December, March, June,
and the Maturity Date, commencing
December 8, 1999
Reset Period: Daily
Interest Reset Dates: Each Business Day, commencing September 8,
1999
Redemption Date: None
Interest Determination Dates: Each Business Day on a weighted basis,
meaning the rate in effect for any Non-
Business Day will be the rate in effect on
the previous Business Day, 2 Business Days
cut-off
Business Day: New York
Redemption Date: None
Agent's Discount or
Commision: 0.050%
Agent(s): Lehman Brothers
Capacity: Principal
Form of Note
(Book-Entry or Certificated): Book-Entry
Other Terms: None
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Medium-Term Notes, Series C may be issued by the Company in an
aggregate principal amount of up to $5,050,000,000 and, to date,
including this offering, an aggregate of $329,886,000 Medium-Term
Notes, Series A, $620,114,000, Series B, and $4,402,921,000 Series C
have been issued.
