A new larger heat of a 14YWT nanostructured ferritic alloy (NFA), FCRD NFA-1, was synthesized by ball milling FeO and argon atomized Fe-14Cr-3W-0.4Ti-0.2Y (wt.%) powders, followed by hot extrusion, annealing and cross rolling to produce a 12.5mmthick plate. NFA-1 contains a bimodal size distribution of pancake-shaped, mostly very fine scale, grains. The as-processed plate also contains a large population of microcracks running parallel to its broad surfaces. The small grains and large concentration of Y-Ti-O nano-oxides (NOs) result in high strength up to 800°C. The uniform and total elongations range from ≈ 1 to 8%, and ≈ 10 to 24%, respectively. The strength decreases more rapidly above ≈ 400°C and transitions to largely viscoplastic creep by ≈ 600°C. While the local fracture mechanism is ductile-dimple microvoid nucleation, growth and coalescence, perhaps the most notable feature of tensile deformation behavior of NFA-1 is the occurrence of periodic delamination, manifested as fissures on the fracture surfaces.