Freddie Mac priced a $1.2 billion offering of structured pass-through certificates, which are multifamily mortgage-backed securities.

The K-092 certificates are expected to settle on or about May 31. The certificates are backed by corresponding classes issued by the FREMF 2019-K92 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue certificates consisting of classes X2-A, X2-B, B, C, D and R certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-092 certificates.

Wells Fargo Securities LLC and PNC Capital Markets LLC are co-lead managers and joint book runners for the offering. BofA Securities Inc., Brean Capital, Credit Suisse Securities (USA) LLC and Ramirez & Co. Inc. are co-managers.