National Rural Utilities Cooperative Finance Corporation is offering $250,000 of Medium-Term Notes, Series D, bearing 3.60% annual interest and maturing on February 15, 2027. The notes are issued at 100% of principal, with no redemption feature and no agent commission.
Interest is paid on January 15 and July 15, to holders of record on January 1 and July 1. Counsel Hogan Lovells US LLP states that, after proper authorization, issuance and payment, these notes will be valid and binding obligations of the company, subject to customary bankruptcy and equitable principles.
National Rural Utilities Cooperative Finance Corporation is offering a $1,000,000 Medium-Term Note, Series D, bearing interest at 3.60% per annum, issued at 100% of principal on February 15, 2026 and maturing on February 15, 2027.
Interest is paid on January 15 and July 15, to holders of record on January 1 and July 1. The note has no redemption provisions and no agent’s commission. Counsel Hogan Lovells US LLP opines the note will be a valid, binding obligation, subject to customary bankruptcy and equity law limitations.
National Rural Utilities Cooperative Finance Corporation is issuing a $1,000,000 Medium-Term Note, Series D, under its existing program. The note carries a fixed interest rate of 3.59% per annum, will be issued on February 15, 2026, and matures on December 15, 2026.
Interest is scheduled to be paid on January 15 and July 15, to holders of record on January 1 and July 1, and there is no optional redemption date and no agent’s commission on this issuance. Counsel Hogan Lovells US LLP opines that, after proper authorization, execution and delivery, the note will be a valid and binding obligation of the company, subject to customary bankruptcy and equitable principles under District of Columbia and New York law.
National Rural Utilities Cooperative Finance Corporation plans to redeem all $600 million of its 4.45% Medium-Term Notes due 2026 on March 6, 2026. The notes will be redeemed at par plus accrued interest, and the company intends to fund principal and interest payments with cash on hand.
The redemption is being carried out to reduce interest expense, indicating a proactive approach to managing borrowing costs and balance sheet structure.
National Rural Utilities Cooperative Finance Corp is issuing $596,000 principal amount of 5.500% fixed-rate subordinated deferrable interest notes due February 15, 2056. The notes are priced at 100.000% of principal, with a 3.150% gross concession, providing net proceeds of $577,226.00.
Interest is paid semi-annually, with the first coupon of $27.96 on August 15, 2026, and a survivor’s option is available. The notes are callable at the issuer’s option at 100% of principal plus accrued interest on or after February 15, 2031.
Counsel opines the notes should be treated as indebtedness for U.S. federal income tax purposes, but there is no controlling authority and the IRS could challenge this view, so investors are directed to review the detailed tax discussion and consult tax advisors.
National Rural Utilities Cooperative Finance Corp is issuing $877,000 principal amount of senior unsecured notes with a fixed 3.750% annual coupon, paid monthly, and a maturity date of February 15, 2029. The notes are priced at 100.000% of principal and are non-callable, so they are scheduled to remain outstanding until maturity. Net proceeds to the company are listed as $869,764.75 after a 0.825% gross concession to the purchasing agent. The minimum denomination is $1,000 and the first coupon payment of $3.44 is due on March 15, 2026. The notes include a survivor’s option and are issued as DTC book-entry securities under an existing prospectus and indenture.
National Rural Utilities Cooperative Finance Corporation is offering $2,250,000.00 of Medium-Term Notes, Series D, as described in this pricing supplement. The notes bear interest at 3.65% per annum and are scheduled to mature on June 15, 2028.
Interest is payable semi-annually on January 15 and July 15 to holders of record on January 1 and July 1. The notes are issued at 100% of their principal amount, carry no redemption provisions or agents’ commission, and Hogan Lovells US LLP opines they will be valid and binding obligations subject to customary bankruptcy and equity-related limitations.
National Rural Utilities Cooperative Finance Corporation is issuing a $250,000 Medium-Term Note, Series D, under its existing prospectus. The note is priced at 100% of principal, carries a fixed 3.61% annual interest rate, and will mature on December 15, 2026.
The original issue date is February 5, 2026, with interest paid on January 15 and July 15, to holders of record on each preceding January 1 and July 1. There is no redemption feature and no selling agents’ commission. Counsel Hogan Lovells US LLP states the note will be a valid and binding obligation of the company, subject to customary bankruptcy and equity law limitations.
National Rural Utilities Cooperative Finance Corporation is issuing $600,000,000 principal amount of Medium-Term Notes, Series D, as floating rate notes maturing on August 9, 2027. The notes are priced at 100% of principal and will pay interest quarterly based on Compounded SOFR plus 43 basis points, using an Actual/360 day count.
Interest will be paid each February 9, May 9, August 9 and November 9, starting May 9, 2026, with payment at maturity equal to 100% of principal plus accrued interest. The notes will be issued in book-entry form, with MUFG Securities Americas Inc., RBC Capital Markets, Truist Securities and others acting as principals, earning a 0.10% selling concession.
The notes are not intended for retail investors in the United Kingdom, and no UK PRIIPs key information document has been prepared. Concurrently, the company is also offering an additional $600,000,000 principal amount of Series D notes under a separate pricing supplement. Settlement is expected on a T+4 basis on February 9, 2026.
National Rural Utilities Cooperative Finance Corporation is issuing $600,000,000 of Medium-Term Notes, Series D, due February 9, 2029. The fixed-rate notes are priced at 99.941% of principal and pay interest at 4.05% per annum, with semi-annual payments each February 9 and August 9, starting August 9, 2026.
The company may redeem the notes before January 9, 2029 at a make-whole redemption price based on a Treasury Rate plus 10 basis points, and at 100% of principal on or after that date, in each case plus accrued interest. An agents’ discount or commission of 0.20% applies. The notes settle on a T+4 basis on February 9, 2026, and are offered alongside a separate concurrent $600,000,000 Series D issue. The notes are not intended for retail investors in the United Kingdom under UK PRIIPs rules.