0000070502-14-000631.txt : 20141104 0000070502-14-000631.hdr.sgml : 20141104 20141104162729 ACCESSION NUMBER: 0000070502-14-000631 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20141104 DATE AS OF CHANGE: 20141104 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/ CENTRAL INDEX KEY: 0000070502 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS BUSINESS CREDIT INSTITUTION [6159] IRS NUMBER: 520891669 STATE OF INCORPORATION: DC FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-169453 FILM NUMBER: 141193541 BUSINESS ADDRESS: STREET 1: 20701 COOPERATIVE WAY CITY: DULLES STATE: VA ZIP: 20166-6691 BUSINESS PHONE: 7034671800 MAIL ADDRESS: STREET 1: 20701 COOPERATIVE WAY CITY: DULLES STATE: VA ZIP: 20166-6691 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/ CENTRAL INDEX KEY: 0000070502 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS BUSINESS CREDIT INSTITUTION [6159] IRS NUMBER: 520891669 STATE OF INCORPORATION: DC FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 20701 COOPERATIVE WAY CITY: DULLES STATE: VA ZIP: 20166-6691 BUSINESS PHONE: 7034671800 MAIL ADDRESS: STREET 1: 20701 COOPERATIVE WAY CITY: DULLES STATE: VA ZIP: 20166-6691 FWP 1 nov14_fwp5yr.htm NOVEMBER 2014 FWP 5-YEAR nov14_fwp5yr.htm
Filed Pursuant to Rule 433 under the Securities Act
Registration Statement no. 333-191114
Issuer Free Writing Prospectus dated November 4, 2014
 
NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORPORATION
COLLATERAL TRUST BOND TERM SHEET
     
Issuer:
 
National Rural Utilities Cooperative Finance Corporation
     
Expected Ratings:
 
A1 (Stable) / A+ (Stable) (Moody’s / S&P)
     
Principal Amount:
 
$300,000,000
     
Security Type:
 
Collateral Trust Bonds
     
Legal Format:
 
SEC Registered
     
Pricing Date:
 
November 4, 2014
     
Settlement Date:
 
November 12, 2014 (T+5)
     
Maturity Date:
 
November 15, 2019
     
Coupon:
 
2.30%
     
Price to Public:
 
    99.864%
     
Benchmark Treasury:
 
1.500% due October 31, 2019
     
Benchmark Treasury Yield:
 
1.629%
     
Spread to Benchmark Treasury:
 
+70 basis points
     
Yield to Maturity:
 
2.329%
     
Interest Payment Dates:
 
Semi-annually on May 15 and November 15, commencing May 15, 2015
     
Optional Redemption:
 
At any time on or after October 15, 2019, the Bonds will be redeemable, in whole or in part, at a redemption price equal to 100% of the principal amount being redeemed plus accrued and unpaid interest on the Bonds being redeemed to, but excluding, the redemption date.
 
At any time before October 15, 2019, the Bonds will be redeemable, in whole or in part, at a redemption price equal to the greater of (1) 100% of the principal amount of the Bonds being redeemed or (2) the sum of the present values of the remaining scheduled payments of principal and interest discounted on a semi-annual basis at the Treasury Rate, plus 12.5 basis points, plus accrued and unpaid interest on the Bonds being redeemed to, but excluding, the redemption date.
     
Denominations:
 
$2,000 x $1,000
     
CUSIP:
 
637432 NB7 / US637432NB74
     
Joint Book-Running Managers:
 
  KeyBanc Capital Markets Inc.
   
  Mizuho Securities USA Inc.
   
  RBS Securities Inc.
   
  U.S. Bancorp Investments, Inc.
   
 
Senior Co-Managers:     J.P. Morgan Securities LLC
 
 
  Mitsubishi UFJ Securities (USA), Inc.
   
  PNC Capital Markets LLC
   
  RBC Capital Markets, LLC
   
  Scotia Capital (USA) Inc.
   
  SunTrust Robinson Humphrey, Inc.
   
 
 Co-Managers:     BBVA Securities Inc.
      Regions Securities LLC
 
 
 
Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

The issuer has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (SEC) for this offering. Before you invest, you should read the prospectus for this offering in that registration statement, and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by searching the SEC online database (EDGAR®) at www.sec.gov. Alternatively, you may obtain a copy of the prospectus from RBS Securities Inc. by calling toll-free at 1-866-884-2071, KeyBanc Capital Markets Inc. by calling toll-free at 1-866-227-6479, Mizuho Securities USA Inc. by calling toll-free at 1-866-271-7403 and U.S. Bancorp Investments, Inc. by calling toll-free at 1-877-558-2607.