NRUC prices $2.0M Medium‑Term Note at 3.94%

National Rural Utilities Cooperative Finance Corporation priced a $2,000,000 Medium-Term Note, Series D, at 100% of principal with an interest rate of 3.94% per annum.

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation priced a $2,000,000 Medium-Term Note, Series D, at 100% of principal with an interest rate of 3.94% per annum. The notes have an original issue date of June 5, 2026 and mature on June 15, 2027. Interest is payable each January 15 and July 15 with regular record dates of January 1 and July 1. The pricing supplement is dated June 2, 2026 and references the prospectus supplement dated October 27, 2023 and base prospectus dated October 24, 2023.

Insights

Debt Capital Markets Analyst

Small, short‑term note issuance at a fixed 3.94%.

The transaction is a $2,000,000 primary issuance of Medium‑Term Notes priced at 100%, maturing on June 15, 2027. The coupon is fixed at 3.94%, with semiannual interest payments on January 15 and July 15.

Cash‑flow treatment and distribution mechanics are described by the pricing supplement; the excerpt lists no agents commission and no redemption date. Subsequent offering documents would state placement methods and use of proceeds.

Securities/Corporate Counsel

Legal opinion frames enforceability subject to insolvency and equitable defenses.

Counsel of record states that, upon receipt of consideration and proper issuance, the notes will be valid obligations under the indenture, subject to bankruptcy, insolvency and equitable principles.

The opinion cites the District of Columbia General Cooperative Association Act of 2010 and New York law as governing; holders should note those jurisdictional references when assessing enforceability.

Key Figures

Principal Amount: $2,000,000.00 Issue Price: 100% of Principal Amount Interest Rate: 3.94% per annum +3 more

6 metrics

Principal Amount $2,000,000.00 Pricing Supplement trade date <date>June 2, 2026</date>

Issue Price 100% of Principal Amount Pricing Supplement dated <date>June 2, 2026</date>

Interest Rate 3.94% per annum Fixed coupon for the Series D note

Original Issue Date June 5, 2026 Original issue date shown on pricing table

Maturity Date June 15, 2027 Maturity of the Series D Medium‑Term Note

Interest Payment Dates January 15 and July 15 Semiannual payments with record dates January 1 and July 1

Key Terms

Medium‑Term Note, Pricing Supplement, Indenture, Original Issue Date

4 terms

Medium‑Term Note financial

"Medium-Term Notes, Series D Due Nine Months or More from Date of Issue"

Pricing Supplement regulatory

"Pricing Supplement No. | 10585 Pricing Supplement Date | June 2, 2026"

A pricing supplement is a short, final document that gives the exact terms of a new securities offering—such as the price, interest rate, size and settlement date—building on the broader prospectus. Think of it as the day’s receipt that turns a general menu into the specific order; investors use it to see the concrete deal terms that determine value, yield and whether to buy.

Indenture legal

"due execution, authentication, issuance and delivery of the notes pursuant to the terms of the indenture"

An indenture is a legal agreement between a company that borrows money by issuing bonds and the people who buy those bonds. It explains the rules the company must follow, like paying back the money and keeping certain financial promises. This document helps both sides understand their rights and responsibilities.

Original Issue Date financial

"Original Issue Date | June 5, 2026"

Offering Details

primary

Offering

Offering Type primary

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did NRUC issue in this pricing supplement?

NRUC issued a $2,000,000 Medium‑Term Note, Series D, at 100% of principal. The note carries a fixed interest rate of 3.94% per annum and matures on June 15, 2027.

When are interest payments for the NRUC note scheduled?

Interest is payable each January 15 and July 15. Regular record dates for interest are January 1 and July 1 for determining entitlements to those payments.

What are the key dates for the NRUC Medium‑Term Note?

The pricing supplement is dated June 2, 2026, the original issue date is June 5, 2026, and the maturity date is June 15, 2027. These dates are listed in the supplement.

What is the issue price and principal amount for NRUC's note?

The notes were issued at 100% of principal for a $2,000,000 principal amount. Those terms are specified on the pricing supplement cover information.

Does the pricing supplement state any agent fees or redemption?

The supplement lists no agents commission and indicates no redemption date for the offered notes. Those items appear explicitly in the pricing table.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/03/2026 - 10:28 AM Learn about SEC filing dates

Rule 424 (b) (3)

Registration No.: 333-275151

NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION

Medium-Term Notes, Series D

Due Nine Months or More from Date of Issue

Trade Date			June 2, 2026
Pricing Supplement No.			10585
Pricing Supplement Date			June 2, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$2,000,000.00
Issue Price			100% of Principal Amount
Original Issue Date			June 5, 2026
Maturity Date			June 15, 2027
Interest Rate			3.94% per annum
Regular Record Dates			Each January 1 and July 1
Interest Payment Dates			Each January 15 and July 15
Redemption Date			None
Agents Commission			None
Form of Note: (Book-Entry or Certificated)			Certificated
Other Terms			None
Medium-Term Notes, Series D may be issued by the Company in an unlimited aggregate principal amount.

Validity of the Medium-Term Note

In the opinion of Hogan Lovells US LLP, as counsel to the Company, following (i) receipt by the Company of the consideration for the notes specified in applicable resolutions of the board of directors of the Company and (ii) the due execution, authentication, issuance and delivery of the notes pursuant to the terms of the indenture and the applicable underwriting, agency or distribution agreement against payment therefor, the notes offered by this pricing supplement will constitute valid and binding obligations of the Company, subject to the effect of (a) bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting creditors’ rights and remedies (including, without limitation, the effect of statutory and other law regarding fraudulent conveyances and fraudulent, preferential or voidable transfers), and (b) the exercise of judicial discretion and the application of principles of equity, good faith, fair dealing, reasonableness, conscionability and materiality (regardless of whether the applicable agreements are considered in a proceeding in equity or at law), including, without limitation, principles limiting the availability of specific performance and injunctive relief.

This opinion is based as to matters of law solely on applicable provisions of the following, as currently in effect: (i) the District of Columbia General Cooperative Association Act of 2010 and (ii) the laws of the State of New York (but not including any laws, statutes, ordinances, administrative decisions, rules or regulations of any political subdivision below the state level). In addition, this opinion is subject to customary assumptions about the trustee’s authorization, execution and delivery of the indenture and its authentication of the notes and the validity, binding nature and enforceability of the indenture with respect to the trustee, all as stated in the letter of such counsel dated October 27, 2023, which has been filed as an exhibit to a Current Report on Form 8-K by the Company on October 27, 2023.