NRUC prices 3.95% senior notes maturing 2028

Q: What are the coupon and maturity terms for NRUC's notes?

The notes pay a 3.950% fixed coupon, paid monthly, and mature on 04/15/2028. The prospectus language identifies them as Senior Unsecured Notes with a non-callable redemption feature.

Q: What price and concessions are disclosed in NRUC's Pricing Supplement?

The Pricing Supplement lists a selling price of 100.000% and a gross concession of 0.550%. The Purchasing Agent buys at selling price less the applicable gross concession, per the supplement.

Q: When do NRUC trades settle and what are key dates?

Offering dates run April 13–20, 2026, the trade date is 04/20/2026, and settlement is scheduled for 04/23/2026. The first coupon date is 05/15/2026.

Q: What is the minimum investment for NRUC's notes and how are they held?

Minimum denomination and increments are $1,000. Notes will clear via DTC Book Entry (DTC No. 0235) with U.S. Bank Trust Company serving as trustee.

Q: Are NRUC's notes callable or secured?

The Pricing Supplement states the notes are non-callable and are ranked as Senior Unsecured Notes. No security or collateral is described in the excerpt.

National Rural Utilities Cooperative Finance Corp (NRUC) priced Senior Unsecured Notes with a 3.950% fixed coupon, payable monthly, maturing on 04/15/2028.

Accepted by SEC EDGAR 04/13/2026 - 02:37 PM EDT

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

424B3

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corp (NRUC) priced Senior Unsecured Notes with a 3.950% fixed coupon, payable monthly, maturing on 04/15/2028. The Pricing Supplement shows a selling price of 100.000% and a gross concession of 0.550%. Trades were scheduled April 13–20, 2026, with a trade date of 04/20/2026 and settlement on 04/23/2026. Minimum denomination is $1,000 and notes are non-callable and senior unsecured.

Key Figures

Selling Price: 100.000% Gross Concession: 0.550% Coupon Rate: 3.950% +5 more

8 metrics

Selling Price 100.000% Pricing Supplement No. 652

Gross Concession 0.550% Pricing Supplement No. 652

Coupon Rate 3.950% Fixed coupon, monthly payments

Maturity Date 04/15/2028 Maturity of the notes

First Coupon Amount $2.41 1st coupon dated 05/15/2026

Offering Window April 13–20, 2026 Offering dates in Pricing Supplement

Trade Date 04/20/2026 Specified trade date

Minimum Denomination $1,000 Minimum denomination/increments

Key Terms

Pricing Supplement, Gross Concession, DTC Book Entry, Senior Unsecured Notes, +1 more

5 terms

Pricing Supplement regulatory

"Pricing Supplement No. 652 - Dated Monday, April 13, 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.

Gross Concession market

"Gross Concession | 0.550%"

DTC Book Entry market

"SDFS: DTC Book Entry only"

Senior Unsecured Notes financial

"Product Ranking ... Senior Unsecured Notes"

Senior unsecured notes are a type of loan a company borrows from investors, promising to pay back with interest. They are called "unsecured" because they aren’t backed by specific assets like buildings or equipment, but "senior" because they are paid back before other debts if the company gets into trouble. Investors see them as a relatively safer way for companies to raise money.

InterNotes® market

"InterNotes® is a registered trademark of InspereX Holdings LLC"

Offering Details

other

Offering

Offering Type other

Securities Offered Senior Unsecured Notes

FAQ

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

What are the coupon and maturity terms for NRUC's notes?

The notes pay a 3.950% fixed coupon, paid monthly, and mature on 04/15/2028. The prospectus language identifies them as Senior Unsecured Notes with a non-callable redemption feature.

What price and concessions are disclosed in NRUC's Pricing Supplement?

The Pricing Supplement lists a selling price of 100.000% and a gross concession of 0.550%. The Purchasing Agent buys at selling price less the applicable gross concession, per the supplement.

When do NRUC trades settle and what are key dates?

Offering dates run April 13–20, 2026, the trade date is 04/20/2026, and settlement is scheduled for 04/23/2026. The first coupon date is 05/15/2026.

What is the minimum investment for NRUC's notes and how are they held?

Minimum denomination and increments are $1,000. Notes will clear via DTC Book Entry (DTC No. 0235) with U.S. Bank Trust Company serving as trustee.

Are NRUC's notes callable or secured?

The Pricing Supplement states the notes are non-callable and are ranked as Senior Unsecured Notes. No security or collateral is described in the excerpt.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Filed under Rule 424(b)(3), Registration Statement No. 333-275151

Pricing Supplement No. 652 - Dated Monday, April 13, 2026 (To: Prospectus Dated October 24, 2023 and Prospectus Supplement Dated October 27, 2023)

CUSIP Number

Principal Amount

Selling Price

Gross Concession

Net Proceeds

Coupon Type

Coupon Rate

Coupon Frequency

Maturity Date

1st Coupon Date

1st Coupon Amount

Survivor's Option

Product Ranking

63743F4D5

[ ]

100.000%

0.550%

[ ]

Fixed

3.950%

Monthly

04/15/2028

05/15/2026

$2.41

Yes

Senior Unsecured Notes

Redemption Information: Non-Callable


	Offering Date: Monday, April 13, 2026 through Monday, April 20, 2026	National Rural Utilities Cooperative Finance Corp
National Rural Utilities Cooperative Finance Corp	Trade Date: Monday, April 20, 2026 @12:00 PM ET
	Settle Date: Thursday, April 23, 2026	Prospectus dated October 24, 2023 and
	Minimum Denomination/Increments:$1,000.00/$1,000.00	Prospectus Supplement Dated: October 27, 2023
	Initial trades settle flat and clear SDFS: DTC Book Entry only
	DTC Number: 0235 via RBC Dain Rauscher Inc.

	Agents: InspereX LLC, Citigroup Global Markets Inc., Wells Fargo Clearing Services, LLC, RBC Capital Markets, LLC

	Trustee: U.S. Bank Trust Company, National Association

	If the maturity date or an interest payment date for any note is not a business day (as term is defined in prospectus), principal, premium, if any, and interest for that note is paid on the next business day, and no interest will accrue from, and after, the maturity date or interest payment date.

	Notes will be sold to you at the selling price specified in this Pricing Supplement. The Purchasing Agent shall purchase notes from us at the selling price less the applicable gross concession specified in this Pricing Supplement. The Purchasing Agent may resell the notes it purchases to the agents and selected dealers at the selling price less a concession that, at the discretion of the Purchasing Agent, may be less than or equal to the gross concession received by the Purchasing Agent. Notes purchased by the agents and selected dealers on behalf of level-fee [investment or advisory] accounts may be sold to such accounts at the selling price less the applicable concession, and such agents and selected dealers shall not retain, as compensation, any portion of such concession.

	InterNotes® is a registered trademark of InspereX Holdings LLC. All Rights Reserved.

Source: View Original Filing on SEC EDGAR