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Bond Public

U.S. Treasury 1.25% Bond due May 15, 2050

CUSIP 912810SN9 · 29-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
5.34%
annualized · YTW equals YTM (non-callable)
Current yield i
2.76%
Coupon i
1.25%
Modified duration i
18.0 yr
Convexity i
393.74
Indicative price i
45.260
indicative model price — not a tradable quote
real auctioned at 98.034 · 1.33% high yield (Jul 9, 2020) · reopening — at issuance, not a current price
Settles i
Jul 29, 2026
priced to this date (T+1 basis)
Total to settle i
45.515
per 100 par (clean 45.260 + accrued 0.255) · ≈ $4,551.46 per $10,000 face
Next coupon i
Nov 15, 2026
0.625 per 100 · $62.50 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Jul 2020par 100 · May 205048 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i29-Year 10-Month
Coupon i1.25% (semiannual)
Maturity iMay 15, 2050
Issue dateJul 15, 2020
Par value i100.00
CallableNo
Amount outstanding i$52.9B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
45.260
Dirty price i
45.515
Accrued interest i
0.255
per 100 par
Yield to maturity i
5.34%
Yield to worst i
5.34%
Current yield i
2.76%
Modified duration i
18.0 yr
Macaulay duration i
18.5 yr
Convexity i
393.74
DV01 i
0.0820
per 100 par

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

Remaining cash flows

48 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Nov 15, 20260.625 0.988600.618
May 15, 20270.625 0.968930.606
Nov 15, 20270.625 0.948710.593
May 15, 20280.625 0.928230.580
Nov 15, 20280.625 0.907830.567
May 15, 20290.625 0.888240.555
Nov 15, 20290.625 0.868720.543
May 15, 20300.625 0.849900.531
Nov 15, 20300.625 0.831010.519
May 15, 20310.625 0.812660.508
Nov 15, 20310.625 0.793830.496
May 15, 20320.625 0.775080.484
Nov 15, 20320.625 0.756280.473
May 15, 20330.625 0.737930.461
Nov 15, 20330.625 0.719750.450
May 15, 20340.625 0.702260.439
Nov 15, 20340.625 0.684690.428
May 15, 20350.625 0.667620.417
Nov 15, 20350.625 0.650490.407
May 15, 20360.625 0.633760.396
Nov 15, 20360.625 0.617050.386
May 15, 20370.625 0.600820.376
Nov 15, 20370.625 0.584540.365
May 15, 20380.625 0.568750.355
Nov 15, 20380.625 0.552920.346
May 15, 20390.625 0.537580.336
Nov 15, 20390.625 0.522200.326
May 15, 20400.625 0.507220.317
Nov 15, 20400.625 0.492300.308
May 15, 20410.625 0.477840.299
Nov 15, 20410.625 0.463380.290
May 15, 20420.625 0.449380.281
Nov 15, 20420.625 0.435370.272
May 15, 20430.625 0.421810.264
Nov 15, 20430.625 0.408270.255
May 15, 20440.625 0.395090.247
Nov 15, 20440.625 0.382000.239
May 15, 20450.625 0.369340.231
Nov 15, 20450.625 0.356700.223
May 15, 20460.625 0.344490.215
Nov 15, 20460.625 0.334450.209
May 15, 20470.625 0.326090.204
Nov 15, 20470.625 0.317810.199
May 15, 20480.625 0.309830.194
Nov 15, 20480.625 0.301970.189
May 15, 20490.625 0.294440.184
Nov 15, 20490.625 0.286970.179
May 15, 2050100.625 0.2798228.156
Sum of present values 45.515

Present values sum to the dirty price; subtract 0.255 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +43.9% 65.129
-100 bp (-1.0%) +19.98% 54.303
+100 bp (+1.0%) -16.04% 37.999
+200 bp (+2.0%) -28.15% 32.519

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (18.0 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.