

We are pleased to launch the National Rural Subordinated 5.75% 30nc5 InterNote offering. NRUC subordinated debt is rated A3/BBB/BBB+ (Moody's/S&P/Fitch). Like the senior notes, these will have the survivor's option. While these will share the same base prospectus (dated 10/24/23) as the senior notes, the subordinated notes will be issued off its own prospectus supplement (dated 11/1/24) which is attached to this email. Please reach out to your salesperson with any questions you may have.
Corporate Notes are offered through many but not all broker-dealers. The notes are sold only by the prospectus or offering circular and related supplement of the individual issuer. To view a prospectus or offering circular, please click the related link(s) below. The list of new issues is a representative list of new issues provided for illustration purposes only. Any fixed income instrument sold prior to maturity may be worth more or less than the original amount invested, and depending upon the offering documents may be subject to certain risks, including but not limited to, interest rate risk, credit risk, call risk and liquidity risk. Additionally, unless otherwise specified in the particular offering documentation, the products discussed herein are not FDIC insured, may lose value, and are not bank guaranteed. A copy of the official statement and other offering information may be found at the SEC’s EDGAR, as related to other securities offerings. Incapital LLC will also provide copies of the relevant offering statements upon request.
Please consult your financial advisor and relevant offering documents prior to investing any money in these or other products, and for information and additional risks associated with corporate notes, including but not limited to, call risk, principal risk, credit risk and interest rate risk. These products are offered through many but not all broker-dealers.
This information does not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of those securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. Certain products are offered by prospectus or offering circular only. Product suitability must be determined for each individual investor.