National Rural Utilities CFC (NRUC) prices $100,000 note due Mar 15, 2027

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation priced a primary issuance of Medium-Term Notes under a pricing supplement. The pricing lists a $100,000.00 principal amount at 100% issue price, with a 3.78% per annum interest rate. Trade date is May 12, 2026 and original issue date is May 15, 2026. The notes mature on March 15, 2027 and pay interest each January 15 and July 15 with record dates each January 1 and July 1. Counsel opines the notes will be valid and binding obligations subject to standard bankruptcy and equity law qualifications.

Insights

Debt Capital Markets Analyst

Small, short-dated note pricing at a fixed 3.78% for nine-month tenor.

The pricing supplement shows a $100,000.00 issuance with an original issue date of May 15, 2026 and maturity on March 15, 2027. This is a short-dated, fixed-rate obligation consistent with medium-term note programs used for liquidity or investor-specific placements.

Impact depends on the issuer's funding mix and balance sheet use; the offering is documented under the existing base prospectus and counsel opinion. Subsequent disclosures would show aggregate program activity if material.

Securities & Financial Regulation Counsel

Standard validity opinion attached; enforceability limited by bankruptcy and equitable principles.

The counsel opinion states the notes "will constitute valid and binding obligations" subject to insolvency, fraudulent conveyance laws, and equitable defenses. The opinion cites the District of Columbia General Cooperative Association Act and New York law as governing authorities.

Qualifiers are customary; they preserve defenses like fraudulent conveyance and judicial discretion. Documentation compliance and payment mechanics follow the indenture and distribution agreement referenced in the supplement.

Key Figures

Principal Amount: $100,000.00 Issue Price: 100% of Principal Amount Interest Rate: 3.78% per annum +5 more

8 metrics

Principal Amount $100,000.00 original issue amount listed in pricing supplement

Issue Price 100% of Principal Amount pricing supplement

Interest Rate 3.78% per annum stated coupon for the note

Original Issue Date May 15, 2026 stated in pricing supplement

Maturity Date March 15, 2027 stated maturity for the note

Trade Date May 12, 2026 trade date shown on supplement

Interest Payment Dates January 15 and July 15 semiannual coupon payment schedule

Counsel Opinion Scope D.C. and New York law legal bases cited for opinion

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. | 10563 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.

Indenture legal

"due 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.

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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Accepted by SEC EDGAR 05/14/2026 - 11:48 AM Learn about SEC filing dates

FAQ

What did NRUC price in this pricing supplement?

NRUC priced a Medium-Term Note with a $100,000.00 principal amount at 100% issue price, carrying an interest rate of 3.78% per annum and maturing on March 15, 2027.

When are interest payments and record dates for NRUC's note?

Interest is payable each January 15 and July 15, with regular record dates each January 1 and July 1. The note's original issue date is May 15, 2026.

Is this a primary offering or resale for NRUC?

This document reflects a primary issuance of Medium-Term Notes under the issuer's prospectus program, as shown by the pricing supplement listing principal amount, issue price, and original issue date.

What legal protections or limitations are noted in NRUC's counsel opinion?

Counsel opines the notes will be valid and binding obligations but notes limitations from bankruptcy, insolvency laws and equitable principles, citing the District of Columbia General Cooperative Association Act and New York law.

What is the maturity and tenor of the NRUC note?

The note matures on March 15, 2027, which is approximately a nine-month tenor from the original issue date of May 15, 2026, as specified in 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			May 12, 2026
Pricing Supplement No.			10563
Pricing Supplement Date			May 12, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$100,000.00
Issue Price			100% of Principal Amount
Original Issue Date			May 15, 2026
Maturity Date			March 15, 2027
Interest Rate			3.78% 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.