May 06, 2019
Contacts: Brad Captain, Corporate Relations Group, 800-424-2954
DULLES, Va. —The National Rural Utilities Cooperative Finance Corporation (“CFC”) announced today that it settled the offering of $250 million aggregate principal amount of its 5.500% Subordinated Notes due 2064 (the “Notes”). The Notes will be issued in denominations of $25.00 and multiples in excess thereof with a coupon of 5.500% per annum.
Interest on the Notes is payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, beginning on August 15, 2019. The Notes will mature on May 15, 2064. CFC has applied to list the Notes on the New York Stock Exchange under the symbol “NRUC.”
J.P. Morgan and RBC Capital Markets acted as joint book-running managers for the offering. Mizuho Securities, MUFG, Scotiabank, PNC Capital Markets LLC, KeyBanc Capital Markets, SunTrust Robinson Humphrey, US Bancorp and Regions Securities LLC acted as co-managers.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful before registration or qualification thereof under the securities laws of any such state or jurisdiction.
The offering was made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (“SEC”) only by means of a prospectus and prospectus supplement. Prospective investors should read the prospectus supplement and the accompanying prospectus included in the registration statement and other documents CFC has filed with the SEC for more complete information about CFC and the offering of the Notes. Copies of the prospectus and the prospectus supplement may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov or from J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York, 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, telephone collect at 1-212-834-4533, or RBC Capital Markets, LLC, Brookfield Place, 200 Vesey Street, 8th Floor, New York, NY 10281, Attn: DCM Transaction Management, telephone toll-free at 1-866-375-6829.
Created and owned by America’s electric cooperative network, the National Rural Utilities Cooperative Finance Corporation (CFC)—a nonprofit finance cooperative with nearly $27 billion in assets to serve the needs of our member-owners. CFC is an equal opportunity provider. www.nrucfc.coop.