National Rural Utilities CFC (NRUC) issues $168,000 Medium‑Term Note due 3/15/2027

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation priced a primary offering of Medium‑Term Notes, Series D, with a principal amount of $168,000. The notes were issued at 100% of principal with an original issue date of March 15, 2026 and mature on March 15, 2027. The notes pay interest at 3.64% per annum with semiannual interest payment dates of January 15 and July 15, and regular record dates of January 1 and July 1.

The pricing supplement identifies a trade date of March 11, 2026 and states no agents’ commission or redemption date. Counsel Hogan Lovells US LLP provided a legal opinion as to the validity of the notes under applicable District of Columbia and New York law.

Insights

Debt Capital Markets Analyst

Short, fixed‑rate note issued at par for nine‑month tenor.

The offering lists a $168,000 principal amount of Medium‑Term Notes issued at 100% of principal with an interest rate of 3.64% and maturity on March 15, 2027. This is a short‑dated, fixed‑rate debt instrument reflecting the issuer’s near‑term borrowing.

Cash‑flow treatment (who receives proceeds) and use of proceeds are not stated in the excerpt; timing and distribution mechanics are limited to the trade and original issue dates provided. Subsequent filings or prospectus sections would specify underwriting or placement details.

Securities & Corporate Counsel

Standard legal validation attached to the pricing supplement.

Hogan Lovells US LLP rendered an opinion that, upon receipt of consideration and completion of issuance formalities, the notes will be valid and binding obligations, subject to bankruptcy and customary equitable defenses.

The opinion is expressly based on the District of Columbia General Cooperative Association Act of 2010 and New York law as stated; no state or local law opinions below the state level are included in the excerpt.

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Accepted by SEC EDGAR 03/13/2026 - 01:50 PM Learn about SEC filing dates

FAQ

What did NRUC price in this offering?

NRUC priced a Medium‑Term Note, Series D with a principal amount of $168,000. The notes were issued at 100% of principal with an original issue date of March 15, 2026.

What is the interest rate and payment schedule for the NRUC note?

The note carries an interest rate of 3.64% per annum. Interest is payable semiannually on January 15 and July 15, with record dates of January 1 and July 1.

When does the NRUC Medium‑Term Note mature?

The Series D note matures on March 15, 2027, roughly nine months after the original issue date of March 15, 2026 as stated in the pricing supplement.

Were there underwriting commissions or a redemption date disclosed?

The pricing supplement states no agents’ commission and lists no redemption date for the Series D notes. Further distribution mechanics are not included in the excerpt.

Which laws underlie the counsel's opinion on note validity?

Counsel based its opinion on the District of Columbia General Cooperative Association Act of 2010 and the laws of the State of New York, as stated in the excerpt.

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.			10493
Pricing Supplement Date			March 11, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$168,000.00
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.