Free Writing Prospectus Filed Pursuant to Rule 433
Registration Statement No. 333-130584
May 16, 2006
Free Writing Prospectus
SLM Corporation
Medium Term Notes, Series A
Due 9 Months or Longer From the Date of Issue
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Lead Manager |
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Deutsche Bank |
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Issuer |
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SLM Corporation |
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Note Type |
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Medium Term Notes, Series A |
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Ratings |
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A2/A |
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CUSIP |
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78442F DZ 8 |
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USD Amount |
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$25,000,000 |
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Interest Rate |
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6.720% |
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Issue Price |
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100% |
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Commissions: |
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0% |
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Net Proceeds (%): |
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100% |
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Net Proceeds ($): |
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$25,000,000 |
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Trade Date |
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May 16, 2006 |
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Closing Date |
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May 26, 2006 |
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Maturity Date |
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June 13, 2036 |
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Call |
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Redeemable in whole or in part at the Issuer’s Option. |
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Call Dates |
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Callable starting on June 15, 2011 & semiannually thereafter on each June 15th and December 15th with 10 business days prior notice |
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Redemption Price |
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100% |
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Interest Payment Dates |
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Semi-annually, 15th of June and December during the term of the notes |
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1st Payment Date |
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June 15, 2006, with no adjustment |
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Daycount |
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30/360 |
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Business Day Convention |
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Following (New York), unadjusted |
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Business Days |
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New York |
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Minimum Denominations: |
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$1,000 and integral multiples thereof |
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Calculation Agent: |
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SLM Corporation |
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Obligations of SLM Corporation and its subsidiaries are not guaranteed by the full faith and credit of the United States of America. Neither SLM Corporation nor any of its subsidiaries is a government-sponsored enterprise or an instrumentality of the United States of America.
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SLM Corporation has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling the Company, toll free at 1-800-321-7179.