3.70% senior notes due 2028 from National Rural Utilities (NRUC)
Rhea-AI Filing Summary
National Rural Utilities Cooperative Finance Corp is offering a new series of InterNotes senior unsecured notes under its existing shelf registration. The notes carry a fixed 3.700% coupon, priced at 100.000% of principal, with interest paid monthly and a stated maturity on February 15, 2028.
The notes are non-callable and include a survivor's option, allowing repayment upon the death of the beneficial owner, as described in the base prospectus. The first coupon payment is scheduled for March 15, 2026 with an initial coupon amount of $4.11. The minimum denomination is $1,000, in increments of $1,000, and they will be issued in DTC book-entry form through agents including InspereX LLC and major broker-dealers.
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FAQ
What type of security is National Rural Utilities Cooperative Finance Corp (NRUC) offering?
National Rural Utilities Cooperative Finance Corp is offering senior unsecured InterNotes under an existing prospectus and prospectus supplement. These are fixed-rate debt securities with specified coupon and maturity terms.
What are the key terms of the NRUC 3.700% notes due 2028?
The notes have a 3.700% fixed coupon, are priced at 100.000% of principal, pay interest monthly, and mature on February 15, 2028. The first coupon payment date is March 15, 2026 with an initial coupon amount of $4.11.
Are the NRUC 3.700% 2028 notes callable before maturity?
No. The redemption information states that these notes are non-callable, meaning the issuer does not have the option to redeem them prior to the stated maturity date, subject to any provisions described in the base prospectus.
Do the NRUC 3.700% notes include a survivor's option?
Yes. The table indicates "Yes" under Survivor's Option, meaning holders (through their estates or beneficiaries) may have the right to request repayment upon the death of the beneficial owner, as further described in the prospectus.
What is the minimum investment size for the NRUC 3.700% 2028 notes?
The minimum denomination is $1,000, with additional purchases in $1,000 increments. The notes clear through DTC book-entry only and settle via SDFS.
Who are the agents involved in the NRUC InterNotes offering?
The agents listed for this offering include InspereX LLC, Citigroup Global Markets Inc., Wells Fargo Clearing Services, LLC, and RBC Capital Markets, LLC, with U.S. Bank Trust Company, National Association serving as trustee.
How are the NRUC 3.700% notes priced and distributed?
The notes are sold to investors at the selling price specified in the pricing supplement. The purchasing agent buys from the issuer at that selling price less a 0.550% gross concession and may resell to agents and selected dealers at a reduced concession, as described in the distribution terms.