NRUC prices 3.59% Medium-Term Note due 2026

National Rural Utilities Cooperative Finance Corporation is offering a Medium-Term Note, Series D, with a principal amount of $100,000.00.

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation is offering a Medium-Term Note, Series D, with a principal amount of $100,000.00. The note carries a fixed interest rate of 3.59% per annum, priced at 100% of principal.

The note is scheduled to be issued on February 15, 2026 and will mature on December 15, 2026. Interest will be paid semi-annually on each January 15 and July 15, to holders of record on each preceding January 1 and July 1. There is no redemption date and no agent’s commission is listed.

Legal counsel Hogan Lovells US LLP states that, once properly authorized, executed and delivered under the applicable indenture and agreements, the note will constitute a valid and binding obligation of the company, subject to customary bankruptcy and equitable principles under District of Columbia and New York law.

FAQ

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What are the key terms of National Rural Utilities (NRUC) Medium-Term Note Series D?

The Medium-Term Note, Series D, has a principal amount of $100,000.00, a 3.59% fixed annual interest rate, and is priced at 100% of principal. It is issued under an existing prospectus and governed by an indenture referenced in the pricing supplement.

When do the NRUC Medium-Term Note Series D start and mature?

The note’s original issue date is February 15, 2026, and its maturity date is December 15, 2026. Investors receive interest during this period and repayment of principal at maturity, assuming the issuer meets all its obligations under the indenture and related agreements.

How and when is interest paid on NRUC’s 3.59% Medium-Term Note Series D?

Interest on the 3.59% note is paid semi-annually on each January 15 and July 15. Holders of record on the preceding January 1 and July 1 receive these payments, providing regular income over the life of the note until its stated maturity date.

Is there a redemption feature or agent’s commission on the NRUC Medium-Term Note Series D?

The pricing information lists no redemption date, indicating no scheduled early redemption feature. It also states that the agent’s commission is “None,” meaning no commission amount is specified in connection with the distribution of this particular Medium-Term Note, Series D.

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

Hogan Lovells US LLP opines that, after receipt of consideration and proper execution, authentication, issuance and delivery under the indenture and agreements, the notes will be valid, binding obligations of the company, subject to bankruptcy, insolvency, and general equitable principles under District of Columbia and New York law.

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Accepted by SEC EDGAR 02/13/2026 - 01:42 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			February 11, 2026
Pricing Supplement No.			10469
Pricing Supplement Date			February 11, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$100,000.00
Issue Price			100% of Principal Amount
Original Issue Date			February 15, 2026
Maturity Date			December 15, 2026
Interest Rate			3.59% 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.