CFC is required to pledge collateral equal to at least 100% of the outstanding balance of debt issued under the collateral trust bond indentures. CFC pledges distribution mortgage loans and permitted investments under the collateral trust bond indentures. As a result, collateral trust bonds offer investors a direct pledge of electric distribution mortgages.
Current CTB Issuances
| Collateral Trust Bonds (CTBs) Overview | |
|---|---|
| Ticker Symbol: | NRUC |
| Most Recent SEC Shelf Filing1: | 09/17/10 |
| Current Outstanding: | Please refer to NRUCFC's Most Current Financial Report |
| Underwriters: | JP Morgan, UBS Securities, Bank of America/Merrill Lynch, Deutsche Bank Securities, Scotia Capital (USA), RBS Securities, Mitsubishi UFJ Securities (USA), Mizuho Securities USA, KeyBanc Capital Markets Inc., U.S. Bancorp Investments, Inc., RBC Capital Markets LLC, PNC Captial Markets LLC |
| Min Piece/Increment: | $1,000/$1,000 |
| Ratings: | A1/A+ |
| Interest Payment Dates: | Semi-annually according to issue date, unless determined otherwise |
| Prospectus: | Prospectus |
| CTB Diagram: | Diagram |
Current CTB Issuances
| Cusip | Structure | Issue Date | Final Maturity Date | Principal ($ in millions) |
Coupon | Payment Dates | Callable | Term Sheet and Prospectus Supplement | |
|---|---|---|---|---|---|---|---|---|---|
| 637432MQ5 | CTB | 02/02/12 | 02/15/22 | $400.0 | 3.050% | 2/15, 8/15 | MW+ 20bps; 3-month par call | ||
| 637432MP7 | CTB | 02/02/12 | 02/02/15 | $400.0 | 1.000% | 2/2, 8/2 | MW+ 15bps | ||
| 637432MN2 | CTB |
03/01/11 | 03/01/16 | $300.0 | 3.050% | 3/1, 9/1 | MW+ 12.5bps | Prospectus | |
| 637432MM4 | CTB | 11/01/10 | 11/01/13 | $300.0 | 1.125% | 5/1, 11/1 | MW + 10bps | Prospectus | |
| 637432ML6 | CTB | 11/01/10 | 11/01/15 | $350.0 | 1.900% | 5/1, 11/1 | MW + 15bps | Prospectus | |
| 637432LT0 | CTB | 09/16/09 | 09/16/12 | $250.0 | 2.625% | 3/16, 9/16 | MW + 20 bps | Prospectus | |
| 637432LS2 | CTB | 09/16/09 | 09/16/15 | $250.0 | 3.875% | 3/16, 9/16 | MW + 30 bps | Prospectus | |
| 637432LR4 | CTB | 10/30/08 | 11/01/18 | $1,000.0 | 10.375% | 5/1, 11/1 | MW + 50 bps | Prospectus | |
| 637432LM5 | CTB | 06/30/08 | 07/01/13 | $900.0 | 5.500% | 1/1, 7/1 | MWC + 30 bps | Prospectus | |
| 637432KT1 | CTB | 01/23/08 | 02/01/18 | $700.0 | 5.450% | 2/1, 8/1 | MW + 25 bps | Prospectus | |
| 637432HT5 | CTB | 04/10/07 | 04/10/17 | $570.0 | 5.450% | 4/1, 10/1 | MW + 20 bps | Prospectus | |
| 637432DC6 | CTB | 02/25/04 | 03/01/14 | $600.0 | 4.750% | 3/1, 9/1 | MW + 15 bps | Prospectus | |
| 637432CG8 | CTB | 11/04/98 | 11/01/18 | $175.0 | 6.550% | 5/1, 11/1 | MW + 15 bps | N/A | |
| 637432BS3 | CTB | 11/06/96 | 11/01/26 | $75.0 | 7.350% | 5/1, 11/1 | Sinking Fund | N/A | |
| 637432BK0 | CTB | 10/06/95 | 10/01/15 | $50.0 | 7.200% | 4/1, 10/1 | N/A | N/A |
1Since National Rural Utilities Cooperative Finance Corporation ("CFC") is a well-known seasoned issuer with the Securities and Exchange Commission ("SEC"), Securities Offering Reform issued by the SEC in July 2005 allows CFC to file a shelf with the SEC with an indeterminate amount of collateral trust bonds being registered as may from time to time be sold at indeterminate prices. CFC may only issue Collateral Trust Bonds up to the amount authorized and approved by the board of directors.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and other documents CFC has filed with the SEC for more complete information about the issuer and this offering. You can get a free copy of documents by visiting www.nrucfc.coop or at www.sec.gov.
