BondDesk Every bond, priced off the Treasury curve
Bond Public

U.S. Treasury 2.88% Bond due Aug 15, 2045

CUSIP 912810RN0 · 29-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
5.23%
annualized · YTW equals YTM (non-callable)
Current yield i
4.01%
Coupon i
2.88%
Modified duration i
13.3 yr
Convexity i
225.88
Indicative price i
71.767
indicative model price — not a tradable quote
real auctioned at 99.222 · 2.91% high yield (Oct 8, 2015) · reopening — at issuance, not a current price
Settles i
Jul 29, 2026
priced to this date (T+1 basis)
Total to settle i
73.070
per 100 par (clean 71.767 + accrued 1.302) · ≈ $7,306.97 per $10,000 face
Next coupon i
Aug 15, 2026
1.438 per 100 · $143.75 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Oct 2015par 100 · Aug 204539 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i29-Year 10-Month
Coupon i2.88% (semiannual)
Maturity iAug 15, 2045
Issue dateOct 15, 2015
Par value i100.00
CallableNo
Amount outstanding i$29.3B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
71.767
Dirty price i
73.070
Accrued interest i
1.302
per 100 par
Yield to maturity i
5.23%
Yield to worst i
5.23%
Current yield i
4.01%
Modified duration i
13.3 yr
Macaulay duration i
13.6 yr
Convexity i
225.88
DV01 i
0.0970
per 100 par

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

Remaining cash flows

39 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20261.438 0.998281.435
Feb 15, 20271.438 0.978551.407
Aug 15, 20271.438 0.958911.378
Feb 15, 20281.438 0.938411.349
Aug 15, 20281.438 0.917831.319
Feb 15, 20291.438 0.897861.291
Aug 15, 20291.438 0.878371.263
Feb 15, 20301.438 0.859121.235
Aug 15, 20301.438 0.840421.208
Feb 15, 20311.438 0.821651.181
Aug 15, 20311.438 0.803361.155
Feb 15, 20321.438 0.784341.127
Aug 15, 20321.438 0.765671.101
Feb 15, 20331.438 0.746941.074
Aug 15, 20331.438 0.728721.048
Feb 15, 20341.438 0.710831.022
Aug 15, 20341.438 0.693450.997
Feb 15, 20351.438 0.675990.972
Aug 15, 20351.438 0.659030.947
Feb 15, 20361.438 0.642010.923
Aug 15, 20361.438 0.625380.899
Feb 15, 20371.438 0.608780.875
Aug 15, 20371.438 0.592660.852
Feb 15, 20381.438 0.576490.829
Aug 15, 20381.438 0.560810.806
Feb 15, 20391.438 0.545100.784
Aug 15, 20391.438 0.529860.762
Feb 15, 20401.438 0.514600.740
Aug 15, 20401.438 0.499730.718
Feb 15, 20411.438 0.484920.697
Aug 15, 20411.438 0.470580.676
Feb 15, 20421.438 0.456240.656
Aug 15, 20421.438 0.442350.636
Feb 15, 20431.438 0.428450.616
Aug 15, 20431.438 0.415010.597
Feb 15, 20441.438 0.401580.577
Aug 15, 20441.438 0.388520.558
Feb 15, 20451.438 0.375540.540
Aug 15, 2045101.438 0.3629936.821
Sum of present values 73.070

Present values sum to the dirty price; subtract 1.302 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +31.06% 94.060
-100 bp (-1.0%) +14.4% 82.103
+100 bp (+1.0%) -12.14% 63.053
+200 bp (+2.0%) -22.03% 55.959

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (13.3 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 →
4.444.895.34Jan 2026Jul 2026

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