[424B3] NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/ Prospectus Filed Pursuant to Rule 424(b)(3)

National Rural Utilities Cooperative Finance Corporation is issuing a Medium-Term Note, Series D, with a principal amount of $1,000,000.

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation is issuing a Medium-Term Note, Series D, with a principal amount of $1,000,000. The note will be issued at 100% of principal on December 29, 2025 and will mature on December 15, 2034, paying interest at a fixed rate of 4.55% per annum.

Interest will be paid on January 15 and July 15 each year, to holders of record on January 1 and July 1. The note has no redemption date, and there is no agent’s commission listed for this issuance. Counsel Hogan Lovells US LLP states that, after payment for and proper issuance of the note under the governing indenture, it will be a valid and binding obligation of the company, subject to customary bankruptcy and equitable principles.

FAQ

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

What type of security is National Rural Utilities Cooperative Finance Corporation (NRUC) offering in this document?

NRUC is offering a Medium-Term Note, Series D, which is a debt security that pays fixed interest and returns principal at maturity.

What are the key terms of NRUC's new medium-term note?

The note has a $1,000,000 principal amount, a 4.55% per annum interest rate, an original issue date of December 29, 2025, and a maturity date of December 15, 2034.

When will interest be paid on NRUC's 4.55% medium-term note?

Interest is payable on January 15 and July 15 of each year, to investors of record on January 1 and July 1, respectively.

Is there an early redemption feature on NRUC's $1,000,000 medium-term note?

No. The pricing details list the Redemption Date as "None", indicating there is no scheduled early redemption feature disclosed here.

What price is NRUC's medium-term note being issued at, and is there an agent commission?

The note is being issued at 100% of its $1,000,000 principal amount, and the agent’s commission is listed as "None".

What legal opinion is provided about the validity of NRUC's medium-term note?

Hogan Lovells US LLP opines that, after receipt of consideration and proper execution and delivery under the indenture, the notes will be valid and binding obligations of NRUC, subject to customary bankruptcy and equitable principles.

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

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Accepted by SEC EDGAR 12/23/2025 - 03:13 PM Learn about SEC filing dates

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			December 22, 2025
Pricing Supplement No.			10418
Pricing Supplement Date			December 22, 2025
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$1,000,000.00
Issue Price			100% of Principal Amount
Original Issue Date			December 29, 2025
Maturity Date			December 15, 2034
Interest Rate			4.55% 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.