Retail Investing

CFC qualifies as a well-known seasoned issuer under U.S. Securities and Exchange Commission rules. The tables below provide additional information on individual CFC investments.

Investing Instruments
Maturity
Security

InterNotes

CFC InterNotes are senior unsecured debt obligations of CFC that are offered to individual investors. CFC has an A2 long-term senior unsecured rating from Moody's, an A issuer credit rating from S&P, and an A long-term issuer default rating from Fitch.

Overview

CFC InterNotes are generally offered at par in $1,000 increments. Maturities can range from nine months to 30 years. Bonds can be offered at both a fixed and floating rate.

Interest payments are made on a monthly, quarterly or semi-annual basis with payments and maturities occurring on the 15th of the month.

CFC has the option to issue its InterNotes on either a callable or non-callable basis. “Non-callable” means that CFC does not have the right to return the investor’s principal and retire the note prior to the maturity date.

In addition, InterNotes contain a “survivor’s option” that allows the estate to put the bonds back to the issuer in case of death. This option is included at no extra charge.1

 Prospectus

How to Purchase

CFC InterNotes are designed for individual investors and are underwritten by Incapital LLC. For more information, contact your financial adviser or visit Incapital LLC at www.incapital.com.


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 downloading the prospectus, visiting CFC’s Financial Reporting page or at www.sec.gov.

1 This site does not constitute an offer of, or an invitation to purchase, any securities in any jurisdiction in which such offer or invitation would be unlawful.

Subordinated Notes

CFC offers from time to time subordinated debt securities.

Overview

Most Recent SEC Shelf Filing1:

November 1, 2017

Current Outstanding:

Please refer to CFC’s most current financial report.

Ratings:

A3 (Moody's) | BBB+ (S&P) | BBB+ (Fitch)

  Prospectus

Current Subordinated Notes Issuances


Cusip Structure Issue Date Maturity Date Principal
($ in millions)
Coupon Payment Dates Callable Min. Piece/Increment: Prospectus Supplement

637432105

NYSE: NRUC

Sub Notes 5/6/2019 5/15/2064 $250.0 5.50%  2/15, 5/15, 8/15, 11/15 Before 5/15/2024:
MW+50 bps;
On or after 5/15/2024:
Callable at par
$25 Term sheet | Prospectus

1Since National Rural Utilities Cooperative Finance Corporation (CFC) is a well-known seasoned issuer with the U.S. 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 subordinated notes being registered as may from time to time be sold at indeterminate prices. CFC may only issue subordinated notes up to the amount authorized and approved by the CFC 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.

Credit Ratings

CFC is rated 'A' or higher by three major credit rating agencies.