NRUC prices $2M 3.62% medium-term note

National Rural Utilities Cooperative Finance Corporation is issuing a $2,000,000 Medium-Term Note, Series D, as part of its ongoing debt program.

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation is issuing a $2,000,000 Medium-Term Note, Series D, as part of its ongoing debt program. The note will be issued on February 15, 2026, matures on November 15, 2027, and is priced at 100% of principal, meaning it is sold at par.

The note bears a fixed interest rate of 3.62% per annum, with interest paid semiannually on January 15 and July 15 to holders of record on January 1 and July 1. There is no redemption date, so the note is expected to remain outstanding until maturity, and there is no agents’ commission listed, indicating the company does not show a selling concession in this supplement.

Legal counsel Hogan Lovells US LLP opines that, after the company receives payment and the notes are properly issued under the indenture, these notes will be valid and binding obligations of the company, subject to standard bankruptcy and creditors’ rights laws and general principles of equity.

FAQ

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

What is National Rural Utilities (NRUC) issuing in this 424B3?

National Rural Utilities is issuing a $2,000,000 Medium-Term Note, Series D. The note is part of its debt program, offering fixed interest payments and repayment of principal at maturity under an existing indenture.

What are the key terms of NRUC’s new 3.62% medium-term note?

The note has a $2,000,000 principal amount, a fixed 3.62% annual interest rate, an original issue date of February 15, 2026, and a maturity date of November 15, 2027, with interest paid semiannually.

When will investors in NRUC’s 3.62% note receive interest payments?

Holders receive interest payments on January 15 and July 15 each year. The regular record dates are January 1 and July 1, meaning investors on record those days receive the corresponding semiannual payment.

Is there a call or redemption feature on NRUC’s new medium-term note?

The pricing information lists the Redemption Date as “None”. This indicates the note is not scheduled for early redemption under these terms and is expected to remain outstanding until its November 15, 2027 maturity.

At what price is NRUC’s 3.62% note being offered to investors?

The note is offered at 100% of principal amount, which means it is sold at par value. For this issuance, investors pay exactly the $2,000,000 aggregate principal for the full amount of the notes.

What legal opinion supports the validity of NRUC’s 3.62% note?

Hogan Lovells US LLP states the notes will be valid and binding obligations of the company once paid for and properly issued, subject to customary limitations such as bankruptcy laws and general principles of equity and creditors’ rights.

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

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Accepted by SEC EDGAR 02/13/2026 - 02:27 PM 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			February 11, 2026
Pricing Supplement No.			10483
Pricing Supplement Date			February 11, 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			February 15, 2026
Maturity Date			November 15, 2027
Interest Rate			3.62% 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.