National Rural Utilities Cooperative Finance Corporation is issuing $9,850,000 of Medium-Term Notes, Series D, as described in this pricing supplement. The notes are priced at 100% of principal, bear interest at 3.66% per annum, are issued on January 15, 2026, and mature on November 15, 2026.
Interest is payable on each January 15 and July 15, to holders of record on each January 1 and July 1, with no stated redemption date and no agent’s commission. Counsel Hogan Lovells US LLP opines that, after proper authorization, execution, and delivery under the applicable indenture, the notes will be valid and binding obligations of the company, subject to customary bankruptcy and equity-related limitations under District of Columbia cooperative law and New York law.
National Rural Utilities Cooperative Finance Corporation is issuing $1,225,000 of Medium-Term Notes, Series D, at 100% of principal with a fixed interest rate of 3.67% per annum, maturing on December 15, 2026. The notes will be issued on January 15, 2026, with interest paid on each January 15 and July 15 to holders of record on each January 1 and July 1. There is no redemption date and no agents’ commission for this issuance. Counsel Hogan Lovells US LLP states that, after proper authorization, execution and delivery, the notes will be valid and binding obligations of the company, subject to customary bankruptcy and equity-related limitations, under District of Columbia cooperative law and New York law.
National Rural Utilities Cooperative Finance Corporation is issuing a Medium-Term Note, Series D, with a principal amount of $250,000.00. The note carries a fixed interest rate of 3.68% per annum, is priced at 100% of its principal amount, will be issued on January 15, 2026, and will mature on January 15, 2027.
Interest will be paid twice a year on each January 15 and July 15, to holders of record on each January 1 and July 1. There is no redemption date and no agent’s commission for this note. Counsel Hogan Lovells US LLP states that, after proper authorization, execution, issuance 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 is issuing a Medium-Term Note, Series D, with a principal amount of $210,000.00. The note carries a fixed interest rate of 3.68% per annum, will be issued on January 15, 2026 at 100% of principal, and will mature on January 15, 2027.
Interest will be paid semiannually on each January 15 and July 15 to holders of record on each January 1 and July 1. The note has no redemption date and no agent’s commission. Counsel Hogan Lovells US LLP states that, after proper authorization, execution and delivery under the applicable indenture, the note will be a valid and binding obligation of the company, subject to customary bankruptcy and equitable principles.
National Rural Utilities Cooperative Finance Corporation is issuing $1,000,000 of Medium-Term Notes, Series D, bearing interest at 3.68% per year. The notes will be issued at 100% of principal amount on January 15, 2026 and will mature on January 15, 2027, with interest paid semiannually on each January 15 and July 15 to holders of record on each January 1 and July 1. There is no redemption date and no selling agent commission disclosed, so investors receive a straightforward one-year fixed-rate note.
Legal counsel Hogan Lovells US LLP states that, once the company receives the approved consideration and the notes are properly executed and delivered under the indenture, the notes will constitute valid and binding obligations of the company, subject to customary bankruptcy and creditor-rights limitations and general principles of equity under District of Columbia cooperative law and New York law.
National Rural Utilities Cooperative Finance Corporation is issuing a $2,000,000 Medium-Term Note, Series D, under its existing shelf program. The note is priced at 100% of principal, carries a fixed interest rate of 3.66% per annum, and will mature on November 15, 2026. Interest will be paid twice a year on January 15 and July 15, to holders of record on January 1 and July 1. There is no redemption feature and no agent’s commission on this issuance.
Legal counsel Hogan Lovells US LLP states that, once issued in accordance with board resolutions, the indenture, and applicable agreements, the note will be a valid and binding obligation of the company, subject to customary bankruptcy, insolvency, and equitable principles, and based on District of Columbia cooperative law and New York law.
National Rural Utilities Cooperative Finance Corporation is issuing a Medium-Term Note, Series D, with a principal amount of $950,000.00. The note is priced at 100% of principal, carries a fixed interest rate of 3.68% per annum, and will be issued on January 15, 2026, maturing on January 15, 2027.
Interest will be paid twice a year on each January 15 and July 15, to holders of record on each January 1 and July 1. There is no redemption date and no agent’s commission listed for this note. Counsel Hogan Lovells US LLP states that, after proper authorization, execution and delivery, the note will constitute a valid and binding obligation of the company, subject to standard bankruptcy, insolvency and equitable principles under District of Columbia cooperative law and New York law.
National Rural Utilities Cooperative Finance Corporation is offering $1,909,000 of Medium-Term Notes, Series D, at 100% of principal amount with an interest rate of 3.66% per year.
The notes will be issued on January 15, 2026 and will mature on November 15, 2026. Interest is payable on each January 15 and July 15, to holders of record on each January 1 and July 1, and the notes have no redemption provisions and no selling agent commission.
Hogan Lovells US LLP states that, once properly authorized, executed and delivered under the indenture and applicable agreements, the notes will be valid and binding obligations of the company, subject to typical bankruptcy, creditor-rights and equitable principles under District of Columbia cooperative law and New York law.
National Rural Utilities Cooperative Finance Corporation is issuing a Medium-Term Note, Series D, with a principal amount of $100,000.00. The note is priced at 100% of principal, carries a fixed interest rate of 3.66% per annum, and will be issued on January 15, 2026, with a stated maturity date of November 15, 2026.
Interest on the note will be paid semiannually on each January 15 and July 15 to holders of record on January 1 and July 1. There is no redemption feature and no agents’ commission listed. Counsel Hogan Lovells US LLP opines that, after proper authorization, execution and delivery under the applicable indenture, 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.
National Rural Utilities Cooperative Finance Corporation is issuing $5,000,000.00 principal amount of its Medium-Term Notes, Series D, under its existing shelf program. The notes will be issued at 100% of principal amount on January 15, 2026 and will mature on January 15, 2027, bearing interest at 3.68% per annum, with interest payable on each January 15 and July 15 to holders of record on each January 1 and July 1.
The notes have no redemption date and carry no agents commission, indicating the company will receive the full issue price before expenses. Counsel Hogan Lovells US LLP opines that, after proper authorization, execution and delivery under the indenture and applicable agreements, the notes will constitute valid and binding obligations of the company, subject to customary bankruptcy and equitable principles and based on District of Columbia cooperative law and New York law.