NRUC (NRUC) sets terms for $1.75M 3.60% Medium-Term Note due 2027

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation is issuing a Medium-Term Note, Series D, under its existing program. The note has a principal amount of $1,750,000, an issue price of 100% of principal, and bears interest at 3.60% per annum. It will be issued on February 15, 2026 and will mature on February 15, 2027, with interest paid on each January 15 and July 15 to holders of record on each January 1 and July 1. There is no redemption date and no agent’s commission. Counsel Hogan Lovells US LLP states that, after proper authorization, execution and delivery under the governing indenture, the note will be a valid and binding obligation of the company, subject to customary bankruptcy and enforcement limitations.

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			February 11, 2026
Pricing Supplement No.			10482
Pricing Supplement Date			February 11, 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			February 15, 2026
Maturity Date			February 15, 2027
Interest Rate			3.60% 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 is National Rural Utilities (NRUC) offering in this 424B3 pricing supplement?

National Rural Utilities is offering a Medium-Term Note, Series D, with a principal amount of $1,750,000. It is issued at 100% of principal, bears 3.60% annual interest, and is part of the company’s established medium-term note program.

What are the key terms of NRUC’s $1,750,000 Medium-Term Note, Series D?

The Medium-Term Note has a $1,750,000 principal amount, a fixed interest rate of 3.60% per annum, an original issue date of February 15, 2026, and a maturity date of February 15, 2027, providing a one-year term to investors.

When will investors receive interest payments on NRUC’s 3.60% Medium-Term Note?

Interest on the 3.60% Medium-Term Note is paid semiannually on each January 15 and July 15. Holders of record on the preceding January 1 and July 1 regular record dates are entitled to receive these interest payments.

Does NRUC’s Medium-Term Note, Series D, have any redemption provisions?

The pricing information specifies a Redemption Date: None, indicating the note does not include an issuer redemption feature in the disclosed terms. Investors should expect to hold the note to its stated maturity on February 15, 2027, absent secondary market transactions.

What legal opinion supports the validity of NRUC’s Medium-Term Note, Series D?

Law firm Hogan Lovells US LLP opines the note will be a valid and binding obligation of NRUC once consideration is received and it is duly executed, authenticated, issued and delivered under the indenture, subject to customary bankruptcy and equitable enforcement limitations.

Are there any selling commissions on NRUC’s $1,750,000 Medium-Term Note issuance?

The pricing details show an Agents Commission: None for this Medium-Term Note, Series D. That means no separate selling commission is listed in connection with this particular $1,750,000 debt security offering under the company’s medium-term note program.