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Bond Public

U.S. Treasury 3.75% Bond due Nov 15, 2043

CUSIP 912810RD2 · 29-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.82%
annualized · YTW equals YTM (non-callable)
Current yield i
4.29%
Coupon i
3.75%
Modified duration i
12.2 yr
Convexity i
189.87
Indicative price i
87.503
indicative model price — not a tradable quote
real auctioned at 97.378 · 3.90% high yield (Jan 9, 2014) · reopening — at issuance, not a current price
Settles i
Jun 18, 2026
priced to this date (T+1 basis)
Total to settle i
87.850
per 100 par (clean 87.503 + accrued 0.346) · ≈ $8,784.95 per $10,000 face
Next coupon i
Nov 15, 2026
1.875 per 100 · $187.50 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Jan 2014par 100 · Nov 204335 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i29-Year 10-Month
Coupon i3.75% (semiannual)
Maturity iNov 15, 2043
Issue dateJan 15, 2014
Par value i100.00
CallableNo
Amount outstanding i$29.0B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
87.503
Dirty price i
87.850
Accrued interest i
0.346
per 100 par
Yield to maturity i
4.82%
Yield to worst i
4.82%
Current yield i
4.29%
Modified duration i
12.2 yr
Macaulay duration i
12.5 yr
Convexity i
189.87
DV01 i
0.1075
per 100 par

indicative — matrix-priced off today's par curve.

Remaining cash flows

35 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Nov 15, 20261.875 0.984321.846
May 15, 20271.875 0.964841.809
Nov 15, 20271.875 0.944601.771
May 15, 20281.875 0.924091.733
Nov 15, 20281.875 0.904671.696
May 15, 20291.875 0.886261.662
Nov 15, 20291.875 0.867671.627
May 15, 20301.875 0.849621.593
Nov 15, 20301.875 0.831581.559
May 15, 20311.875 0.814121.526
Nov 15, 20311.875 0.795971.492
May 15, 20321.875 0.778051.459
Nov 15, 20321.875 0.760101.425
May 15, 20331.875 0.742621.392
Nov 15, 20331.875 0.725411.360
May 15, 20341.875 0.708781.329
Nov 15, 20341.875 0.692101.298
May 15, 20351.875 0.675911.267
Nov 15, 20351.875 0.659671.237
May 15, 20361.875 0.643831.207
Nov 15, 20361.875 0.627881.177
May 15, 20371.875 0.612361.148
Nov 15, 20371.875 0.596791.119
May 15, 20381.875 0.581691.091
Nov 15, 20381.875 0.566551.062
May 15, 20391.875 0.551871.035
Nov 15, 20391.875 0.537161.007
May 15, 20401.875 0.522820.980
Nov 15, 20401.875 0.508540.954
May 15, 20411.875 0.494710.928
Nov 15, 20411.875 0.480860.902
May 15, 20421.875 0.467440.876
Nov 15, 20421.875 0.454010.851
May 15, 20431.875 0.441010.827
Nov 15, 2043101.875 0.4280143.603
Sum of present values 87.850

Present values sum to the dirty price; subtract 0.346 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +28.26% 112.235
-100 bp (-1.0%) +13.18% 99.038
+100 bp (+1.0%) -11.28% 77.629
+200 bp (+2.0%) -20.67% 69.417

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (12.2 yr) and convexity. Real moves are rarely parallel; this is not a forecast.

What to know

Key risks

  • Interest-rate risk. If market yields rise, the price falls — and more so the longer the maturity. See the rate-sensitivity table above.
  • Inflation risk. Fixed coupons lose purchasing power if inflation rises. TIPS are designed to offset this; nominal bills, notes and bonds are not.
  • Reinvestment risk. Coupons, and principal at maturity, may have to be reinvested later at lower rates than today's.
  • Liquidity / price risk. Selling before maturity means taking the market price at that time, which can be above or below the indicative value shown here.

Tax

Interest on U.S. Treasuries is subject to federal income tax but is generally exempt from state and local income tax.

How Treasuries are bought

New issues are sold at auction (including directly via TreasuryDirect.gov); outstanding securities trade on the secondary market through a broker. This site is for research only and does not sell or recommend securities.

General information only — not tax, legal or investment advice.

Benchmark yield, past year

All tenors →
4.454.885.31Jan 2026Jun 2026

Par yield of the nearest benchmark tenor — the main input to this bond's price.