National Rural Utilities CFC (NRUC) prices $4.0M notes due May 2028

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation offers $4,000,000 of Medium‑Term Notes, Series D under a pricing supplement dated May 12, 2026. The notes price at 100% of principal with an original issue date of May 15, 2026 and mature on May 15, 2028.

The notes carry an interest rate of 4.20% per annum with semiannual interest payments on January 15 and July 15 and record dates of January 1 and July 1. The pricing supplement states no agents’ commission and no redemption date for this series.

Insights

Debt Capital Markets Analyst

Simple, fixed‑rate medium‑term issuance at par.

The pricing supplement documents a $4,000,000 primary issuance of Medium‑Term Notes priced at 100% with a fixed coupon of 4.20% and a May 15, 2028 maturity. The structure is straightforward: semiannual interest and no listed early redemption date.

Primary considerations are the coupon relative to contemporaneous market yields and the issuer's balance‑sheet needs; cash‑flow treatment and use of proceeds are not stated in the excerpt, and investor access methods are limited to the terms set forth in the supplement.

Securities Counsel

Opinion and legal conditions accompany the notes.

Counsel opinion from Hogan Lovells US LLP states the notes will be valid and binding obligations upon receipt of payment and completion of issuance steps, subject to customary insolvency and equitable-law exceptions. The opinion cites the District of Columbia General Cooperative Association Act and New York law.

Investors should note the opinion’s standard qualifiers (bankruptcy, equitable principles); the excerpt does not disclose trustee or indenture covenants beyond the issuance conditions.

Key Figures

Principal Amount: $4,000,000 Interest Rate: 4.20% per annum Issue Price: 100% of Principal Amount +3 more

6 metrics

Principal Amount $4,000,000 Principal Amount of Series D notes

Interest Rate 4.20% per annum Fixed coupon for the Series D notes

Issue Price 100% of Principal Amount Pricing Supplement states issue price

Trade Date May 12, 2026 Pricing Supplement trade date

Original Issue Date May 15, 2026 Original Issue Date for the notes

Maturity Date May 15, 2028 Maturity of the Series D notes

Key Terms

Medium‑Term Notes, Pricing Supplement, Prospectus Supplement, Indenture

4 terms

Medium‑Term Notes financial

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

Pricing Supplement regulatory

"Pricing Supplement No. | 10571 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.

Prospectus Supplement regulatory

"Prospectus Supplement Date | October 27, 2023"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

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			May 12, 2026
Pricing Supplement No.			10571
Pricing Supplement Date			May 12, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$4,000,000.00
Issue Price			100% of Principal Amount
Original Issue Date			May 15, 2026
Maturity Date			May 15, 2028
Interest Rate			4.20% 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 (NRUC) issue in this pricing supplement?

NRUC issued $4,000,000 of Medium‑Term Notes, Series D. The notes are priced at 100% of principal with an original issue date of May 15, 2026 and maturity on May 15, 2028.

What is the interest rate and payment schedule for NRUC’s notes?

The notes carry a fixed coupon of 4.20% per annum. Interest is paid semiannually on January 15 and July 15, with record dates on January 1 and July 1.

Are the notes callable or redeemable before maturity?

The pricing supplement specifies no redemption date for this series. The excerpt does not describe any call or redemption provisions beyond that statement.

What legal opinions accompany the issuance of these notes?

Hogan Lovells US LLP provided an opinion that the notes will be valid obligations upon payment and issuance steps, subject to bankruptcy and equitable‑law exceptions and applicable District of Columbia and New York law.

What price were the notes issued at and when was the trade date?

The notes were issued at 100% of principal (par) and the pricing supplement lists a trade date of May 12, 2026 with an original issue date of May 15, 2026.