Document
Rule 424 (b) (3)
Registration No. 333-221261
CUSIP #: 63743HER9
CALCULATION OF REGISTRATION FEE
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Title of Each Class of Securities Offered | | Maximum Aggregate Offering Price | | Amount of Registration Fee(1)(2) |
Senior Debt Security | | $150,000,000 | | $18,675.00 |
(1) Calculated in accordance with Rule 457(r) of the Securities Act of 1933.
(2) The amount in this column has been transmitted to the SEC in connection with the securities offered by means of this pricing supplement.
TRADE DATE: April 12, 2018
SETTLEMENT DATE: April 19, 2018
PRICING SUPPLEMENT NO. 7703A DATED April 12, 2018
TO PROSPECTUS SUPPLEMENT DATED November 3, 2017
AND BASE PROSPECTUS DATED November 1, 2017
NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
Medium-Term Notes, Series D
With Maturities of Nine Months or More from Date of Issue
Fixed Rate Notes
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Principal Amount: | $150,000,000 |
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Reopening: | These Fixed Rate Notes are expected to be fungible with National Rural Utilities Cooperative Finance Corporation’s outstanding $300,000,000 Fixed Rate Notes issued on February 26, 2018. It is expected that the Fixed Rate Notes offered hereby will have the same interest rate, maturity date and CUSIP number. As a result, the aggregate principal amount of the series of Fixed Rate Notes, after issuance of the Fixed Rate Notes offered hereby, will be $450,000,000. |
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Issue Price: | 99.577% of Principal Amount, plus accrued interest from and including February 26, 2018 to but excluding April 19, 2018. The total amount of accrued interest on April 19, 2018 will be $640,416.67. |
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Original Issue Date: | April 19, 2018 |
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Maturity Date: | March 15, 2021 |
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Interest Rate: | 2.90% per annum |
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Interest Payment Dates: | Each March 15 and September 15. The interest payment made on September 15, 2018 will include accrued interest from February 26, 2018. |
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Regular Record Dates: | Each March 1 and September 1 |
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Payment at Maturity: | The payment at maturity will be 100% of the Principal Amount plus accrued and unpaid interest, if any |
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Redemption Date: | None |
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Agent’s Discount or Commission: | 0.15% |
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Agent(s): | RBC Capital Markets, LLC |
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Capacity: | Principal |
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Form of Note: | Book-Entry |
(Book-Entry or Certificated) | |
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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 Notes
In the opinion of Hogan Lovells US LLP, as counsel to the Company, when the notes offered by this pricing supplement have been executed and issued by the Company and authenticated by the trustee pursuant to the indenture, and delivered against payment as contemplated herein, such notes will constitute valid and binding obligations of the Company, subject to bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting creditors’ rights (including, without limitation, the effect of statutory and other law regarding fraudulent conveyances, fraudulent transfers and preferential transfers), and by 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).
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 Cooperative Association Act, as amended (the “Cooperative Association Act”) 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 November 3, 2017, which has been filed as an exhibit to a Current Report on Form 8-K by the Company on November 3, 2017.