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Sample International Business Machines Corp-style 2-Year corporate bond

Corporate A- Mostly institutional SAMPLE

Illustrative structure — 4.50% coupon · due Jun 15, 2028 · Senior unsecured · bullet · IBM. Not a real, tradable CUSIP.

Representative sample. Terms below (call schedule, seniority, size) are illustrative for a bond like this; issuer identity and credit fundamentals are live. Prices are indicative model values, not market quotes. Real CUSIP, bid/ask and last trades come with a market-data feed — see Methodology.
Yield to worst i
4.90%
to maturity
Matures
Jun 15, 2028
Coupon i
4.50%
Yield to maturity i
4.90%
Current yield i
4.53%
Modified duration i
1.9 yr
Indicative price i
99.258
model not a market quote

Terms & structure

MaturityJun 15, 2028
Coupon i4.50% (semiannual)
CallableNo (bullet)
SenioritySenior unsecured
Public access iMostly institutional Publicly registered, but sold in large $100,000 minimum blocks — in practice bought mainly by institutions.
Minimum purchase$1,000 face (×$1,000)
Amount outstanding i$1.0B (representative)
CUSIPLook up the real CUSIP → · shown as IBM 4.50% ’28 here
FIGIlive feed
IssuerInternational Business Machines Corp IBM
Type Corporate
Issuer website

Computed metrics model

Clean price i
99.258
Dirty price i
99.295
Accrued i
0.037
Yield to maturity i
4.90%
Yield to worst i
4.90%
Modified duration i
1.9 yr
Convexity
4.52
MODEL spread +72bp — our model's credit-spread assumption for a A- rating, not an observed market spread. Real spreads move with supply, liquidity and issuer news.

This bond is non-callable (a bullet), so yield to worst equals yield to maturity.

Credit context

A- Rating A- · outlook Stable — representative/indicative, not a live agency feed; drives the model spread

Leverage & coverage — from SEC filings (FY 2025-12-31)

Total debt
$65.3B
long-term, per filings · as of 2026-03-31
Net margin
15.7%

Market metrics — latest available, via Finnhub

EV / EBITDA
23.9×
Total debt / equity
2.01
Current ratio
0.80

Recent International Business Machines Corp news

Headlines via Finnhub — context only, not a credit assessment.

Ready to act? The number you give your broker

Get this bond's CUSIP

A CUSIP is the bond's unique 9-character ID — letters and digits, like 459200 LQ2. It's how you, your broker or your bond desk pin down exactly this bond to price, buy or sell it. We show indicative analytics here; the official CUSIP lives in the issuer's SEC filing.

Look up IBM CUSIPs
  1. 1
    Opens International Business Machines Corp's pricing term sheet on SEC EDGAR — official and free, in a new tab. We've confirmed this filing lists CUSIPs.
  2. 2
    Find the row labelled “CUSIP” near the top. It's a 9-character code with letters in it, sometimes written with a space — e.g. 459200 LQ2 means 459200LQ2. Not a plain number. (Press Ctrl-F / ⌘-F for “CUSIP” if needed.)
  3. 3
    Pick the one whose coupon & maturity match the bond you want — that's its CUSIP. Give that to your broker.

A longer code starting “US…” next to it is the ISIN (same bond, international format). Once you have a CUSIP, FINRA's bond page shows its last-traded prices. · All IBM bond filings.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. price
-200 bp +3.85% 103.081
-100 bp +1.9% 101.147
+100 bp -1.86% 97.414
+200 bp -3.67% 95.615

Cash-flow timeline

each tick a coupon · ◆ today
issued Jun 2026par 100 · Jun 20284 coupons remaining + principal

Market price & trading

requires a market-data feed (FINRA TRACE)
Bid / Ask
live feed
dealer quotes
Last trade
live feed
price + time of last reported trade
Recent volume
live feed
reported TRACE volume

This preview computes an indicative model price off the Treasury curve. Real-time bid/ask, last-trade price and trade time are licensed FINRA TRACE data — available when a feed is connected. To find this bond's real CUSIP and trade prices, see above.