NRUC prices $625K Medium‑Term Notes at 3.74%

National Rural Utilities Cooperative Finance Corporation priced a Medium‑Term Note offering for a Series D note with a $625,000.00 principal amount at 100% of principal.

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation priced a Medium‑Term Note offering for a Series D note with a $625,000.00 principal amount at 100% of principal. The notes bear interest at 3.74% per annum, have an original issue date March 15, 2026 and mature on March 15, 2028. Interest is payable each January 15 and July 15 with record dates each January 1 and July 1. The pricing supplement states no redemption date and no agents commission. The validity opinion is conditioned on receipt of consideration and the due execution, authentication, issuance and delivery of the notes.

Insights

Debt Capital Markets Analyst

Short‑term note priced at a fixed 3.74% for two years.

The pricing supplement documents a $625,000 issuance of Series D Medium‑Term Notes due March 15, 2028, issued at 100% of principal with semiannual interest payments on January 15 and July 15. The supplement lists no redemption feature and no agents commission, which are common for cooperative financing programs.

Legal validity is tied to receipt of consideration and proper execution and delivery; timing and cash‑flow treatment follow the indenture and underwriting/agency agreement. Subsequent filings may disclose distribution counterparties or use‑of‑proceeds details.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did NRUC (NRUC) issue?

NRUC issued a Medium‑Term Note, Series D, with a principal amount of $625,000.00. The note was priced at 100% of principal and carries a fixed interest rate of 3.74% per annum.

When do the NRUC Series D notes mature and start accruing interest?

The Series D notes have an original issue date of March 15, 2026 and a maturity date of March 15, 2028. Interest accrues at 3.74% per annum with semiannual payments.

How and when are interest payments made on NRUC Series D notes?

Interest is payable each January 15 and July 15. Regular record dates for interest are each January 1 and July 1, per the pricing supplement.

Are there redemption rights or underwriting commissions for these notes?

The pricing supplement states no redemption date and indicates no agents commission. The validity opinion is conditioned on receipt of consideration and proper execution, authentication, issuance and delivery.

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

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Accepted by SEC EDGAR 03/13/2026 - 09:35 AM 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			March 11, 2026
Pricing Supplement No.			10502
Pricing Supplement Date			March 11, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$625,000.00
Issue Price			100% of Principal Amount
Original Issue Date			March 15, 2026
Maturity Date			March 15, 2028
Interest Rate			3.74% 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.