NRUC (NRUC) prices $613K 3.96% note due Jun 15, 2027

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation (NRUC) priced a Medium-Term Note, Series D, with a principal amount of $613,000 at 100% of principal. The notes bear interest at 3.96% per annum, have an original issue date of June 15, 2026 and mature on June 15, 2027.

The pricing supplement shows a trade date of June 10, 2026, semiannual interest payments each January 15 and July 15, and no agents' commission or redemption date specified.

Insights

Debt Capital Markets Analyst

Short-term note issuance at a fixed $613,000 and 3.96%.

The pricing supplement documents a Medium-Term Note issued at par with a one-year contractual term from June 15, 2026 to June 15, 2027. Interest is fixed at 3.96% with semiannual payments on January 15 and July 15.

Counterparty cash flows and underwriting terms are not shown in the excerpt; the legal opinion cites governing law and customary bankruptcy and equity exceptions. Subsequent filings or trade confirmations will reveal placement details and actual investors.

Key Figures

Principal Amount: $613,000 Issue Price: 100% of Principal Amount Interest Rate: 3.96% per annum +4 more

7 metrics

Principal Amount $613,000 Principal amount of Medium-Term Note, Series D

Issue Price 100% of Principal Amount Issued at par per pricing supplement

Interest Rate 3.96% per annum Fixed coupon on the notes

Original Issue Date June 15, 2026 Original issue date stated in supplement

Maturity Date June 15, 2027 Stated maturity of the Series D note

Trade Date June 10, 2026 Pricing trade date shown

Interest Payment Dates January 15 and July 15 Semiannual fixed interest payment schedule

Key Terms

Medium-Term Note, Pricing Supplement, Indenture, Regular Record Dates

4 terms

Medium-Term Note financial

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

A medium-term note is a debt instrument—an IOU—issued by a company or government to borrow money for a period longer than a short loan but shorter than a long-term bond, typically about one to ten years. It matters to investors because it offers predictable interest income with a balance between higher yields than short-term paper and lower interest-rate sensitivity than long bonds, so it’s often used to tune income, risk and timing in a portfolio.

Pricing Supplement regulatory

"Pricing Supplement No. | 10598 Pricing Supplement Date | June 10, 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

"the notes pursuant to the terms of the indenture and the applicable underwriting"

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.

Regular Record Dates financial

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

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

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Available on EDGAR 06/12/2026 - 02:22 PM Accepted by SEC EDGAR 06/12/2026 - 02:19 PM Learn about SEC filing dates

FAQ

What did NRUC issue in this pricing supplement?

NRUC issued a Medium-Term Note, Series D, with a principal amount of $613,000 priced at 100% of principal. The document lists the interest rate, original issue date, maturity date, and payment schedule.

What are the key dates for NRUC's Series D note?

The trade date is June 10, 2026, the original issue date is June 15, 2026, and the maturity date is June 15, 2027. Interest payments occur each January 15 and July 15.

What interest rate and payment terms apply to the note?

The note carries a fixed interest rate of 3.96% per annum with regular record dates on January 1 and July 1, and interest paid each January 15 and July 15.

What was the issue price and are there agent commissions?

The Series D notes were issued at 100% of principal and the pricing supplement states Agents Commission: None, indicating no placement commission is shown in this excerpt.

Does the pricing supplement allow redemption prior to maturity?

The pricing supplement lists the Redemption Date: None, indicating no scheduled early redemption is specified in the provided excerpt for these notes.

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 10, 2026
Pricing Supplement No.			10598
Pricing Supplement Date			June 10, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$613,000.00
Issue Price			100% of Principal Amount
Original Issue Date			June 15, 2026
Maturity Date			June 15, 2027
Interest Rate			3.96% 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.