NRUC (NRUC) prices $750K Series D notes due Nov 15, 2027

Rhea-AI Filing Summary

National Rural Utilities Cooperative Finance Corporation priced $750,000 of Medium-Term Notes, Series D due November 15, 2027 under a Pricing Supplement dated May 12, 2026. The notes carry a 4.07% per annum interest rate, an issue price of 100%, and an original issue date of May 15, 2026. The prospectus supplement referenced is dated October 27, 2023 and the base prospectus is dated October 24, 2023. The pricing supplement states there is no redemption date and no agents commission listed.

Insights

Debt Capital Markets Analyst

Brief: A routine medium-term note issuance with fixed-rate terms.

The pricing supplement shows a primary issuance of $750,000 in Medium-Term Notes, Series D, with a fixed 4.07% per annum coupon and an original issue date of May 15, 2026. The issue price is 100%, indicating par pricing on issuance.

Dependencies and risks include the legal opinion limiting enforceability to applicable laws and insolvency principles; the document lists no redemption date and no agents commission. Cash‑flow treatment and use of proceeds are not stated in the excerpt.

Securities Counsel Reviewer

Brief: Opinion and governing law clauses are standard for debt offerings.

The counsel opinion from Hogan Lovells US LLP states the notes will be valid and binding subject to bankruptcy and equitable principles and cites the District of Columbia General Cooperative Association Act of 2010 and the laws of New York.

This opinion is conditioned on receipt of consideration and proper execution under the indenture and agency agreements; those conditions are typical legal prerequisites for issuance.

Key Figures

Principal Amount: $750,000 Interest Rate: 4.07% per annum Issue Price: 100% of Principal Amount +4 more

7 metrics

Principal Amount $750,000 Principal Amount as stated in Pricing Supplement

Interest Rate 4.07% per annum Coupon for Series D notes

Issue Price 100% of Principal Amount Pricing Supplement - original issue price

Original Issue Date May 15, 2026 Original issue date of the notes

Maturity Date November 15, 2027 Maturity of Series D notes

Interest Payment Dates Jan 15 and Jul 15 Regular semiannual interest payment dates

Agents Commission None Agents commission per Pricing Supplement

Key Terms

Pricing Supplement, Medium‑Term Notes, Issue Price, Indenture

4 terms

Pricing Supplement regulatory

"Pricing Supplement Date | May 12, 2026 Prospectus Supplement Date"

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.

Medium‑Term Notes financial

"Medium-Term Notes, Series D Due Nine Months or More from Date of Issue"

Issue Price financial

"Issue Price | 100% of Principal Amount"

The issue price is the amount of money investors pay to buy a new security, such as a stock or bond, when it is first offered to the public. It matters to investors because it determines their initial cost and potential future gains or losses, similar to paying a set price for a new product before it hits stores. The issue price helps establish the value of the security at the start of its trading life.

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.

Offering Details

primary

Offering

Offering Type primary

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Accepted by SEC EDGAR 05/14/2026 - 12:42 PM Learn about SEC filing dates

FAQ

What exactly was offered in NRUC's Pricing Supplement (May 12, 2026)?

The offering was $750,000 of Medium-Term Notes, Series D due November 15, 2027. The notes were priced at 100% of principal with a 4.07% per annum interest rate and original issue date May 15, 2026.

When are interest payments for the Series D notes issued by NRUC payable?

Interest is payable semiannually on January 15 and July 15 each year, with regular record dates of January 1 and July 1. The coupon is 4.07% per annum as stated in the pricing supplement.

Does the pricing supplement show any early redemption feature or agents commission?

The pricing supplement lists the Redemption Date: None and Agents Commission: None. Those entries indicate no scheduled redemption provision and no commission disclosed in the provided excerpt.

Which laws and conditions underpin the counsel opinion for these notes?

Counsel opinion cites the District of Columbia General Cooperative Association Act of 2010 and the laws of New York. It conditions validity on receipt of consideration and proper execution, subject to bankruptcy and equitable principles.

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 12, 2026
Pricing Supplement No.			10572
Pricing Supplement Date			May 12, 2026
Prospectus Supplement Date			October 27, 2023
Base Prospectus Date			October 24, 2023
Principal Amount			$750,000.00
Issue Price			100% of Principal Amount
Original Issue Date			May 15, 2026
Maturity Date			November 15, 2027
Interest Rate			4.07% 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.