NRUC issues $289K Medium-Term Note at 3.64%

National Rural Utilities Cooperative Finance Corporation priced a primary issuance of Medium-Term Notes with a $289,000.00 principal amount at 100% of principal.

Accepted by SEC EDGAR 03/13/2026 - 10:52 AM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation priced a primary issuance of Medium-Term Notes with a $289,000.00 principal amount at 100% of principal.

The notes bear interest at 3.64% per annum, have an Original Issue Date of March 15, 2026 and mature on March 15, 2027

Insights

Debt Capital Markets Analyst

Short-term fixed-rate note issuance at a defined coupon.

These pricing terms show a single-tranche issuance of Medium-Term Notes for National Rural Utilities Cooperative Finance Corporation with a $289,000.00 principal amount and an 3.64% stated interest rate. The issue price is 100% of principal, indicating full proceeds at issuance.

Because the tenor is one year to maturity (matures March 15, 2027), the economic exposure is limited to a short-duration fixed coupon. Cash-flow treatment is implied by the cover terms: proceeds are received at issuance against delivery; underwriting/agent commissions are stated as None.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did NRUC file in this Rule 424(b)(3) pricing supplement?

The filing reflects a pricing supplement for a Medium-Term Note offering of $289,000.00 issued at 100% of principal, with an interest rate of 3.64% and maturity on March 15, 2027.

How much interest does the NRUC Medium-Term Note pay?

The notes pay interest at a fixed rate of 3.64% per annum, with scheduled interest payment dates on January 15 and July 15 each year and record dates of January 1 and July 1.

When are the NRUC notes issued and when do they mature?

The pricing shows an Original Issue Date of March 15, 2026 and a stated maturity of March 15, 2027, giving the notes approximately a one-year term from issuance to maturity.

Who receives the proceeds and are there dealer commissions?

The pricing indicates the notes were issued at 100% of principal, which implies proceeds are received at issuance by the issuer, and the supplement lists Agents Commission: None for this tranche.

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

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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.			10511
Pricing Supplement Date			March 11, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$289,000.00
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.