NRUC (NRUC) issues $20M Series D notes, 4.14% coupon to Nov 2027

Rhea-AI Filing Summary

The National Rural Utilities Cooperative Finance Corporation is offering $20,000,000 of Medium-Term Notes, Series D, issued at 100% of principal with an interest rate of 4.14% per annum. The trade date is May 18, 2026, original issue date May 21, 2026, and maturity is November 15, 2027. Interest is payable each January 15 and July 15 with record dates each January 1 and July 1.

The pricing supplement states there is no redemption date and no agent commission. Legal counsel rendered an opinion on the validity of the notes referencing the District of Columbia General Cooperative Association Act of 2010 and New York law.

Insights

Debt Capital Markets Analyst

Medium-term note issuance of $20M with a fixed 4.14% coupon maturing in Nov 15, 2027.

The offering lists $20,000,000 of Series D Medium-Term Notes issued at 100% of principal with interest paid semiannually on Jan 15 and Jul 15. There is no scheduled redemption date and no agent commission.

Funding mechanics, use of proceeds, and investor allocation are not disclosed in the excerpt; subsequent filings or the prospectus supplement may provide distribution details and final placement information.

Key Figures

Principal Amount: $20,000,000 Issue Price: 100% of Principal Amount Interest Rate: 4.14% per annum +3 more

6 metrics

Principal Amount $20,000,000 Series D Medium-Term Notes

Issue Price 100% of Principal Amount Pricing Supplement No. 10580

Interest Rate 4.14% per annum Fixed coupon on Series D

Trade Date May 18, 2026 Pricing Supplement trade date

Original Issue Date May 21, 2026 Settlement/issue date

Maturity Date November 15, 2027 Series D maturity

Key Terms

Medium-Term Notes, Pricing Supplement, Indenture, Record Dates

4 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. | 10580 Pricing Supplement Date | May 18, 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

"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.

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.

Offering Details

primary

Offering

Offering Type primary

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

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Accepted by SEC EDGAR 05/19/2026 - 12:51 PM Learn about SEC filing dates

FAQ

What securities did NRUC (NRUC) register in this supplement?

The supplement registers $20,000,000 of Medium-Term Notes, Series D, issued at 100% of principal. The notes bear interest at 4.14% per annum and mature on November 15, 2027.

When will NRUC pay interest on the Series D notes?

Interest is payable semiannually on January 15 and July 15. Regular record dates for interest are January 1 and July 1, as stated in the pricing supplement.

What is the issue and trade date for the Series D notes?

The pricing supplement lists a trade date of May 18, 2026 and an original issue date of May 21, 2026. These dates relate to pricing and settlement of the issuance.

Is there a redemption provision or agent commission for these notes?

The supplement states there is no redemption date for the notes and that agents commission: None, indicating no placement commission is reported in this excerpt.

Which laws did counsel rely on for the validity opinion?

Counsel relied on the District of Columbia General Cooperative Association Act of 2010 and the laws of the State of New York in issuing the validity opinion for the 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			May 18, 2026
Pricing Supplement No.			10580
Pricing Supplement Date			May 18, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$20,000,000.00
Issue Price			100% of Principal Amount
Original Issue Date			May 21, 2026
Maturity Date			November 15, 2027
Interest Rate			4.14% 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.