06/16/2025 | Press release | Distributed by Public on 06/16/2025 12:54
The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement is not an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subject to completion dated June 16, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Filed under Rule 424(b)(3), Registration Statement No. 333-275151 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pricing Supplement No. 21 - Dated Monday, June 16, 2025 (To: Prospectus Dated October 24, 2023 and Prospectus Supplement Dated November 1, 2024) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CUSIP Number | Principal Amount | Selling Price | Gross Concession |
Net Proceeds
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Coupon Type | Coupon Rate | Coupon Frequency | Maturity Date | 1st Coupon Date | 1st Coupon Amount | Survivor's Option |
Product Ranking
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63743LAW3 |
[ ]
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100.000%
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3.150% |
[ ]
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Fixed | 5.750% | Semi- Annual | 06/15/2055 | 12/15/2025 | $26.99 | Yes |
Subordinated Notes
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Offering Date: Monday, June 16, 2025 through Monday, June 23, 2025 | National Rural Utilities Cooperative Finance Corp | |||||||
National Rural Utilities Cooperative Finance Corp | Trade Date: Monday, June 23, 2025 @12:00 PM ET | Subordinated Notes (Subordinated Deferrable Interest Notes) | ||||||
Settle Date: Thursday, June 26, 2025 | ||||||||
Minimum Denomination/Increments:$1,000.00/$1,000.00 | Prospectus dated October 24, 2023 and | |||||||
Initial trades settle flat and clear SDFS: DTC Book Entry only | Prospectus Supplement Dated: November 1, 2024 | |||||||
DTC Number: 0235 via RBC Dain Rauscher Inc. | ||||||||
Agents: InspereX LLC, Citigroup Global Markets Inc., RBC Capital Markets, LLC, Wells Fargo Clearing Services, LLC | ||||||||
Trustee: U.S. Bank Trust Company, National Association | ||||||||