National Rural Utilities Cooperative Finance (NRUC) prices $300K 3.59% note

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation is issuing a Medium-Term Note, Series D, under its existing program. The note has a principal amount of $300,000.00, an issue price of 100% of principal, and will bear interest at 3.59% per annum.

The note will be issued on February 15, 2026 and will mature on December 15, 2026, with interest payable each January 15 and July 15 to holders of record on January 1 and July 1. There is no redemption date and no agent’s commission. Counsel Hogan Lovells US LLP opines that, after proper issuance and payment, the note will constitute a valid and binding obligation of the company, subject to customary bankruptcy and equity law limitations.

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Accepted by SEC EDGAR 02/13/2026 - 01:11 PM Learn about SEC filing dates

FAQ

What medium-term note has NRUC registered in this 424B3 filing?

National Rural Utilities Cooperative Finance Corporation is issuing a Medium-Term Note, Series D, with a $300,000 principal amount. It carries a fixed 3.59% annual interest rate and is part of the company’s broader medium-term note program.

What are the issue and maturity dates for NRUC’s 3.59% Series D note?

The Medium-Term Note, Series D, will be issued on February 15, 2026 and will mature on December 15, 2026. This creates a relatively short term of less than one year between issuance and final principal repayment.

How and when will interest be paid on NRUC’s Medium-Term Note, Series D?

The note pays 3.59% interest per year, with payments due each January 15 and July 15. Holders of record on January 1 and July 1 will receive these semiannual interest payments during the life of the note.

Is NRUC’s 3.59% Series D medium-term note callable or redeemable early?

The pricing details specify a redemption date: none, meaning there is no stated early redemption feature. Investors can therefore expect the note to remain outstanding until its scheduled maturity on December 15, 2026, barring other extraordinary events.

What legal opinion supports the validity of NRUC’s Medium-Term Note, Series D?

Hogan Lovells US LLP states that, after proper authorization, execution, and payment, the note will be a valid and binding obligation of NRUC. This opinion is subject to standard limitations from bankruptcy, insolvency, and equitable principles under District of Columbia and New York law.

Does NRUC pay an agent’s commission on this 3.59% Series D note issuance?

The pricing terms list the agent’s commission as none, indicating no separate commission is payable to an agent for this specific Medium-Term Note, Series D. Investors purchase at 100% of the $300,000 principal amount according to the pricing supplement.

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.			10459
Pricing Supplement Date			February 11, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$300,000.00
Issue Price			100% of Principal Amount
Original Issue Date			February 15, 2026
Maturity Date			December 15, 2026
Interest Rate			3.59% 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.