NRUC (NRUC) prices 3.95% senior unsecured notes due 04/15/2028
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.
Positive
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Negative
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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
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
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.