NRUC (NRUC) sells $518,000 Series D notes maturing May 15, 2027

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation is offering $518,000.00 of Medium-Term Notes, Series D, in a primary issuance under its base prospectus. The notes price at 100% of principal, carry a 3.88% per annum interest rate, trade date is May 12, 2026, original issue date May 15, 2026, and mature on May 15, 2027. The pricing supplement lists no agents' commission and states no redemption date.

Insights

Debt Capital Markets Analyst

Short-term note issuance at par with a fixed 3.88% coupon.

The $518,000.00 Series D Medium-Term Notes carry a 3.88% fixed annual coupon and mature in one year on May 15, 2027. Pricing at 100% indicates the notes were issued at par.

Funding impact and refinancing considerations depend on the issuer's broader debt program; cash-use details are not provided in the excerpt.

Securities Counsel / Compliance Expert

Prospectus supplement and counsel opinion present standard legal comfort language.

The opinion from Hogan Lovells US LLP states the notes will be valid obligations upon receipt of consideration and proper issuance, subject to typical insolvency and equitable defenses.

Disclosure preserves customary qualifiers such as bankruptcy and judicial discretion; no unusual legal qualifications appear in the excerpt.

Key Figures

Principal Amount: $518,000.00 Issue Price: 100% of Principal Amount Interest Rate: 3.88% per annum +4 more

7 metrics

Principal Amount $518,000.00 Series D Medium-Term Notes

Issue Price 100% of Principal Amount Pricing Supplement No. 10566

Interest Rate 3.88% per annum Fixed coupon for Series D notes

Original Issue Date May 15, 2026 Settlement/origination date

Maturity Date May 15, 2027 One-year tenor from issue

Interest Payment Dates January 15 and July 15 Semiannual payments

Agents' Commission None As stated in the pricing supplement

Key Terms

Pricing Supplement, Medium-Term Notes, Issue Price, Record Date

4 terms

Pricing Supplement regulatory

"Pricing Supplement No. 10566 Pricing Supplement Date May 12, 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.

Medium-Term Notes financial

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

Medium-term notes are debt securities issued by companies, banks or governments that promise to pay interest and return principal at a set date a few years out—typically longer than short-term bills but shorter than long-term bonds. For investors they act like staggered IOUs that provide predictable income and help diversify holdings, but they carry credit and interest-rate risk and can affect a portfolio’s cash flow and stability depending on the issuer’s creditworthiness and the note’s term.

Issue Price financial

"Issue Price | 100% of Principal Amount"

The issue price is the amount of money investors pay to buy a new security, such as a stock or bond, when it is first offered to the public. It matters to investors because it determines their initial cost and potential future gains or losses, similar to paying a set price for a new product before it hits stores. The issue price helps establish the value of the security at the start of its trading life.

Record Date financial

"Regular Record Dates | Each January 1 and July 1"

The record date is the specific day when a company determines which shareholders are eligible to receive a dividend or participate in an upcoming vote. It’s like a cutoff date; if you own the stock on that day, you get the benefits or voting rights. This date matters because it decides who qualifies for certain company benefits.

Offering Details

primary

Offering

Offering Type primary

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 Not now

Accepted by SEC EDGAR 05/14/2026 - 11:57 AM Learn about SEC filing dates

FAQ

What securities did NRUC (NRUC) register in this pricing supplement?

The supplement registers $518,000.00 of Medium-Term Notes, Series D. The notes are issued at 100% of principal with a 3.88% annual coupon and a maturity date of May 15, 2027.

When do the NRUC Series D notes pay interest and when do they mature?

Interest is payable each January 15 and July 15 with record dates each January 1 and July 1. The notes mature on May 15, 2027 following the original issue date of May 15, 2026.

What price and fees are associated with the NRUC offering in this supplement?

The notes were offered at an issue price of 100% of principal. The pricing supplement specifically states agents' commission: None, indicating no selling commission disclosed in the excerpt.

Does the pricing supplement allow early redemption for the NRUC Series D notes?

The supplement lists Redemption Date: None, indicating no stated early redemption feature in the excerpt. Other redemption mechanics or conditional calls are not described in the provided text.

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			May 12, 2026
Pricing Supplement No.			10566
Pricing Supplement Date			May 12, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$518,000.00
Issue Price			100% of Principal Amount
Original Issue Date			May 15, 2026
Maturity Date			May 15, 2027
Interest Rate			3.88% 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.