NRUC (NRUC) prices $250,000 note maturing March 15, 2027

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation priced a medium-term note offering of $250,000.00 in principal, original issue date March 15, 2026, maturing on March 15, 2027.

The note carries an interest rate of 3.64% per annum with semiannual interest payments each January 15 and July 15 and regular record dates of January 1 and July 1. The issue price is 100% of principal and no redemption or agents' commission is listed.

Insights

Debt Capital Markets Analyst

Short-term note issuance at a fixed $250,000 amount and 3.64% coupon.

The offering is a single medium-term note maturing in one year (March 15, 2027), priced at par (100%). This structure provides a predictable fixed-cost borrowing profile for the term shown.

Cashflow treatment and use of proceeds are not described in the excerpt; subsequent filings or the prospectus supplement may disclose allocation or investor placement details.

Securities & Finance Counsel

Legal opinion attached affirms validity subject to standard insolvency and equitable exceptions.

Counsel from Hogan Lovells US LLP states the notes will be valid obligations upon receipt of consideration and proper issuance under the indenture, citing the District of Columbia General Cooperative Association Act and New York law.

Opinion preserves customary qualifiers such as bankruptcy, fraudulent transfer law, and judicial equitable principles; timing and closing conditions are linked to payment and authentication steps in the offering documents.

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

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Accepted by SEC EDGAR 03/13/2026 - 09:07 AM Learn about SEC filing dates

FAQ

What did NRUC issue in this pricing supplement?

NRUC issued a medium-term note with principal of $250,000.00, original issue date March 15, 2026, and maturity on March 15, 2027. The issue price is 100% of principal.

What is the interest rate and payment schedule for NRUC's note?

The note carries an interest rate of 3.64% per annum with interest paid semiannually on January 15 and July 15, and record dates of January 1 and July 1.

Is there a redemption option or agents' commission listed?

The pricing supplement shows None for Redemption Date and lists None for Agents Commission, indicating no callable feature or agent commission is specified in this excerpt.

What legal assurances are provided about the notes' validity?

Hogan Lovells US LLP opines the notes will be valid obligations upon receipt of consideration and proper issuance, subject to bankruptcy and other standard equitable and statutory exceptions under cited laws.

What are the trade and pricing supplement dates for this offering?

The Trade Date and Pricing Supplement Date are both March 11, 2026, and the Prospectus Supplement referenced is dated October 27, 2023 with a Base Prospectus date of October 24, 2023.

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			March 11, 2026
Pricing Supplement No.			10499
Pricing Supplement Date			March 11, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$250,000.00
Issue Price			100% of Principal Amount
Original Issue Date			March 15, 2026
Maturity Date			March 15, 2027
Interest Rate			3.64% 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.