NRUC (NRUC) prices $1,000,000 notes due June 15, 2028 at 4.35%

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation priced $1,000,000 Medium-Term Notes due June 15, 2028.

The pricing supplement shows a $1,000,000 principal amount issued at 100% of principal, with an interest rate of 4.35% per annum. Trade date is June 10, 2026 and original issue date is June 15, 2026. Interest is payable each January 15 and July 15 (record dates January 1 and July 1). The notes list no redemption date and show no agents commission. Legal opinion from Hogan Lovells US LLP states the notes will be valid obligations of the Company, subject to standard insolvency and equitable-law qualifications.

Insights

Debt Capital Markets Analyst

Short-term medium-term notes priced at fixed 4.35% interest.

The pricing supplement documents a $1,000,000 issuance of Medium-Term Notes due June 15, 2028 at 100% of principal and a fixed 4.35% annual coupon. Payment mechanics are standard: semiannual interest payments on January 15 and July 15 with record dates on January 1 and July 1.

Cash-flow treatment is that proceeds are received by the issuer; the supplement lists no agents commission. Legal opinion is limited by insolvency and equitable-law qualifications; timing and use of proceeds are not stated in the provided excerpt.

Key Figures

Principal Amount: $1,000,000.00 Interest Rate: 4.35% per annum Issue Price: 100% of Principal Amount +4 more

7 metrics

Principal Amount $1,000,000.00 Principal amount of the Medium-Term Notes

Interest Rate 4.35% per annum Fixed coupon stated in pricing supplement

Issue Price 100% of Principal Amount Issue price listed in pricing supplement

Trade Date June 10, 2026 Trade date shown on pricing supplement

Original Issue Date June 15, 2026 Original issue date in the table

Maturity Date June 15, 2028 Maturity date of the notes

Interest Payment Dates Jan 15 and Jul 15 Semiannual interest payment schedule

Key Terms

Medium-Term Note, Pricing Supplement, Indenture, Validity Opinion

4 terms

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.

Pricing Supplement regulatory

"Pricing Supplement No. | 10587 Pricing Supplement Date | June 10, 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

"due 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.

Validity Opinion legal

"In the opinion of Hogan Lovells US LLP, as counsel to the Company"

Offering Details

primary

Offering

Offering Type primary

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Available on EDGAR 06/12/2026 - 01:29 PM Accepted by SEC EDGAR 06/12/2026 - 01:23 PM Learn about SEC filing dates

FAQ

What amount and maturity did NRUC price in this 424B3 filing?

The filing priced $1,000,000 in Medium-Term Notes maturing on June 15, 2028. The prospectus supplement lists the principal amount and the maturity date exactly as shown.

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

The notes carry a fixed interest rate of 4.35% per annum. Interest is payable semiannually on January 15 and July 15, with record dates of January 1 and July 1.

When were the trade date and original issue date for these notes?

The pricing supplement shows a trade date of June 10, 2026 and an original issue date of June 15, 2026. Those dates appear on the pricing supplement table.

At what price were the Medium-Term Notes issued?

The notes were issued at 100% of principal (issue price equals principal). The pricing supplement explicitly lists the issue price as 100% of the principal amount.

Does the supplement allow early redemption of the notes?

The supplement states a Redemption Date: None. The table in the pricing supplement lists no redemption date for these notes.

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			June 10, 2026
Pricing Supplement No.			10587
Pricing Supplement Date			June 10, 2026
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			June 15, 2026
Maturity Date			June 15, 2028
Interest Rate			4.35% 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.