National Rural Utilities CFC (NRUC) issues $100,000 Medium-Term Notes maturing Apr 15, 2027

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation priced a primary issuance of $100,000 Medium-Term Notes, Series D. The Original Issue Date is April 8, 2026, maturing on April 15, 2027, with an interest rate of 3.92% per annum and an issue price of 100%.

The pricing supplement is dated April 3, 2026 and cites counsel opinion on note validity under the District of Columbia General Cooperative Association Act of 2010 and New York law.

Key Figures

Principal Amount: $100,000 Interest Rate: 3.92% per annum Issue Price: 100% of Principal Amount +3 more

6 metrics

Principal Amount $100,000 Principal Amount listed on pricing supplement

Interest Rate 3.92% per annum Interest Rate for Series D notes

Issue Price 100% of Principal Amount Issue Price stated in pricing table

Original Issue Date April 8, 2026 Original Issue Date in pricing supplement

Maturity Date April 15, 2027 Maturity Date for Series D notes

Trade / Pricing Date April 3, 2026 Trade Date and Pricing Supplement Date

Key Terms

Pricing Supplement, Medium-Term Note, Indenture

3 terms

Pricing Supplement regulatory

"Pricing Supplement Date | April 3, 2026 Prospectus Supplement Date | October"

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.

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.

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.

Offering Details

primary

Offering

Offering Type primary

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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			April 3, 2026
Pricing Supplement No.			10533
Pricing Supplement Date			April 3, 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			April 8, 2026
Maturity Date			April 15, 2027
Interest Rate			3.92% 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.

FAQ

What did NRUC file in the April 3, 2026 pricing supplement?

The filing priced a primary offering of $100,000 Medium-Term Notes, Series D. It lists a trade date and pricing supplement date of April 3, 2026, an Original Issue Date of April 8, 2026, and a maturity of April 15, 2027.

What are the key economic terms of NRUC's Series D notes?

The Series D notes carry an interest rate of 3.92% per annum and an issue price of 100% of principal. Principal amount listed is $100,000, with interest paid each January 15 and July 15 and record dates January 1 and July 1.

When do NRUC's Series D notes mature and when were they issued?

The notes have an Original Issue Date of April 8, 2026 and a Maturity Date of April 15, 2027. The pricing supplement and trade date are both shown as April 3, 2026 in the excerpt.

Does the pricing supplement include legal validation of the notes?

Yes. Counsel from Hogan Lovells US LLP opines the notes will be valid and binding obligations upon receipt of consideration and proper execution, subject to bankruptcy, equitable principles, and applicable District of Columbia and New York laws.