NRUC prices $1.75M Medium‑Term Notes at 3.88% (2027)

National Rural Utilities Cooperative Finance Corporation is offering $1,750,000 aggregate principal of Medium-Term Notes, Series D due May 15, 2027.

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation is offering $1,750,000 aggregate principal of Medium-Term Notes, Series D due May 15, 2027. The notes bear interest at 3.88% per annum, were priced at 100% of principal, and have an original issue date of May 15, 2026.

The pricing supplement is dated May 12, 2026 and references a prospectus supplement dated October 27, 2023. The notes list no redemption date and show no agent commission in this excerpt.

Insights

Fixed-Income Analyst

Short-term note issuance at a fixed 3.88% coupon for one-year tenor.

The Company issued $1,750,000 of Medium-Term Notes, Series D with a maturity on May 15, 2027 and an original issue date of May 15, 2026. The notes were priced at 100% of principal and pay interest on January 15 and July 15.

Cash‑flow treatment and distribution agents are specified as none in this excerpt; the legal opinion cites governing law and customary insolvency and equity qualifications. Subsequent documents would show placement details, purchaser identity, and any use-of-proceeds language.

Key Figures

Principal Amount: $1,750,000 Interest Rate: 3.88% per annum Issue Price: 100% of Principal Amount +5 more

8 metrics

Principal Amount $1,750,000 aggregate principal of Series D notes

Interest Rate 3.88% per annum fixed coupon on the notes

Issue Price 100% of Principal Amount pricing stated on pricing supplement

Trade Date / Pricing Date May 12, 2026 trade and pricing supplement date

Original Issue Date May 15, 2026 date notes were issued

Maturity Date May 15, 2027 final maturity of Series D notes

Interest Payment Dates Jan 15 and Jul 15 semiannual coupon payment schedule

Agents Commission None as stated in pricing table

Key Terms

Medium-Term Notes, Pricing Supplement, Indenture, Issue Price, +1 more

5 terms

Medium-Term Notes financial

"Medium-Term Notes, Series D Due Nine Months or More from Date of Issue"

Medium-term notes are debt securities issued by companies, banks or governments that promise to pay interest and return principal at a set date a few years out—typically longer than short-term bills but shorter than long-term bonds. For investors they act like staggered IOUs that provide predictable income and help diversify holdings, but they carry credit and interest-rate risk and can affect a portfolio’s cash flow and stability depending on the issuer’s creditworthiness and the note’s term.

Pricing Supplement regulatory

"Pricing Supplement No. | 10570 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

"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.

Issue Price financial

"Issue Price | 100% of Principal Amount"

The issue price is the amount of money investors pay to buy a new security, such as a stock or bond, when it is first offered to the public. It matters to investors because it determines their initial cost and potential future gains or losses, similar to paying a set price for a new product before it hits stores. The issue price helps establish the value of the security at the start of its trading life.

Record Dates financial

"Regular Record Dates | Each January 1 and July 1"

A record date is the specific day a company uses as a snapshot to determine which shareholders are officially entitled to a corporate action — for example receiving a dividend, voting at a meeting, or getting rights in an offering. Think of it like a classroom roll call: only the people listed at that moment qualify, so investors must own shares before related cutoff dates to be included, making it important for timing trades and income planning.

FAQ

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

What securities did NRUC offer in this 424(b)(3) filing?

This filing offers $1,750,000 aggregate principal of Medium-Term Notes, Series D due May 15, 2027. The notes are fixed-rate obligations at 3.88% per annum.

When were the notes priced and what was the issue price for NRUC?

The notes were priced on May 12, 2026 with an original issue date of May 15, 2026. The issue price reported is 100% of principal amount.

What are the interest payment and record dates for these notes?

Interest payments are scheduled each January 15 and July 15. Regular record dates are each January 1 and July 1 for determining holders entitled to interest.

Is there a redemption provision or agent commission disclosed?

The excerpt lists the Redemption Date as None and reports None for Agents Commission in the pricing table provided.

What governing law and legal opinion are included in the supplement?

Counsel opined that the notes are valid obligations subject to the District of Columbia General Cooperative Association Act of 2010 and New York law, with standard insolvency and equitable limitations.

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

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Accepted by SEC EDGAR 05/14/2026 - 12:35 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			May 12, 2026
Pricing Supplement No.			10570
Pricing Supplement Date			May 12, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$1,750,000.00
Issue Price			100% of Principal Amount
Original Issue Date			May 15, 2026
Maturity Date			May 15, 2027
Interest Rate			3.88% 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.