$150K Medium-Term Note Issued by National Rural Utilities (NASDAQ: NRUC)
Rhea-AI Filing Summary
National Rural Utilities Cooperative Finance Corporation priced $150,000 of Medium-Term Notes, Series D at 100% of principal. The notes carry a 4.00% fixed annual interest rate, were originally issued on April 15, 2026, and mature on April 15, 2028.
The pricing supplement references the prospectus supplement dated October 27, 2023 and the base prospectus dated October 24, 2023. The notes pay interest each January 15 and July 15
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Insights
Small, conventional medium-term note issuance with fixed 4.00% coupon.
The transaction lists a $150,000 principal amount issued at par with semiannual interest payments on January 15 and July 15. The pricing supplement cites existing prospectus materials as the disclosure basis.
Credit, market demand, and issuer use of proceeds are not stated in the excerpt; subsequent filings or offering documents would show investor allocation and cash‑flow treatment.
Key Figures
Principal Amount: $150,000
Issue Price: 100% of principal
Interest Rate: 4.00% per annum
+4 more
7 metrics
Principal Amount
<money>$150,000</money>
Principal amount of Medium-Term Notes, Series D
Issue Price
100% of principal
Pricing Supplement No. 10538 dated April 10, 2026
Interest Rate
<percent>4.00%</percent> per annum
Fixed annual coupon for the Series D notes
Original Issue Date
<date>April 15, 2026</date>
Date notes were issued
Maturity Date
<date>April 15, 2028</date>
Final maturity of the Series D notes
Interest Payment Dates
Each January 15 and July 15
Semiannual interest payment schedule
Record Dates
Each January 1 and July 1
Regular record dates for interest payments
Key Terms
Medium-Term Notes, pricing supplement, indenture, prospectus supplement
4 terms
Medium-Term Notes financial
"Medium-Term Notes, Series D Due Nine Months or More"
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.
pricing supplement regulatory
"Pricing Supplement No. 10538 Pricing Supplement Date April 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
"execution, authentication, issuance and delivery of the notes pursuant to the terms of the indenture"
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.
prospectus supplement regulatory
"Prospectus Supplement Date October 27, 2023"
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did NRUC issue in this pricing supplement?
NRUC issued $150,000 of Medium-Term Notes, Series D at par. The notes carry a 4.00% fixed annual interest rate and were issued on April 15, 2026 with a April 15, 2028 maturity.
When does NRUC pay interest on these notes?
Interest is paid semiannually on January 15 and July 15 each year. Regular record dates are each January 1 and July 1, as specified in the pricing supplement and prospectus materials.
What price and commissions were disclosed for the offering?
The pricing supplement shows an issue price of 100% of principal (par). The document lists no agents’ commission for this tranche in the provided excerpt.
What legal opinion is attached to the notes?
Counsel opinion by Hogan Lovells US LLP states the notes will be valid obligations upon receipt of consideration and proper issuance, subject to bankruptcy and other standard legal limitations.