424B3

  Rule 424 (b)(3)

  Registration No.: 333-275151

                      NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION

                                                          Medium-Term Notes, Series D

                                              Due Nine Months or More from Date of Issue

Trade Date	June 11, 2024
Pricing Supplement No.	9867
Pricing Supplement Date	June 11, 2024
Prospectus Supplement Date	October 27, 2023
Base Prospectus Date	October 24, 2023
Principal Amount	$5,000,000.00
Issue Price	100% of Principal Amount
Original Issue Date	June 14, 2024
Maturity Date	April 15, 2025
Interest Rate	5.63% per annum
Regular Record Dates	Each January 1 and July 1
Interest Payment Dates	Each January 15 and July 15
Redemption Date	None
Agents Commission	None
Form of Note  (Book-Entry or Certificated)	Certificated
Other Terms	None

Medium-Term Notes, Series D may be issued by the Company in an unlimited aggregate principal amount.

Validity of the Medium-Term Note

In the opinion of Hogan Lovells US LLP, as counsel to the Company, following (i) receipt by the Company of the consideration for the notes specified in applicable resolutions of the board of directors of the Company and (ii) the due execution, authentication, issuance and delivery of the notes pursuant to the terms of the indenture and the applicable underwriting, agency or distribution agreement against payment therefor, the notes offered by this pricing supplement will constitute valid and binding obligations of the Company, subject to the effect of (a) bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting creditors’ rights and remedies (including, without limitation, the effect of statutory and other law regarding fraudulent conveyances and fraudulent, preferential or voidable transfers), and (b) the exercise of judicial discretion and the application of principles of equity, good faith, fair dealing, reasonableness, conscionability and materiality (regardless of whether the applicable agreements are considered in a proceeding in equity or at law), including, without limitation, principles limiting the availability of specific performance and injunctive relief.

This opinion is based as to matters of law solely on applicable provisions of the following, as currently in effect: (i) the District of Columbia General Cooperative Association Act of 2010 and (ii) the laws of the State of New York (but not including any laws, statutes, ordinances, administrative decisions, rules or regulations of any political subdivision below the state level). In addition, this opinion is subject to customary assumptions about the trustee’s authorization, execution and delivery of the indenture and its authentication of the notes and the validity, binding nature and enforceability of the indenture with respect to the trustee, all as stated in the letter of such counsel dated October 27, 2023, which has been filed as an exhibit to a Current Report on Form 8-K by the Company on October 27, 2023.

EX-FILING FEES

Calculation of Filing Fee Table

424(b)(3)

(Form Type)

National Rural Utilities Cooperative Finance Corporation

(Exact Name of Registrant as Specified in its Charter)

Table 1: Newly Registered Securities

	Security Type	Security Class Title	Fee Calculation or Carry Forward Rule	Amount Registered	Proposed Maximum Offering Price Per Unit	Maximum Aggregate Offering Price	Fee Rate	Amount of Registration Fee
Fees to be Paid	Debt	Medium-Term Notes, Series D	457(r)	$5,000,000.00	100%	$5,000,000.00	0.0001476	$738.00
	Total Offering Amount					$5,000,000.00
	Net Fee Due							$738.00