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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
5.01%
annualized · YTW equals YTM (non-callable)
Current yield i
2.61%
Coupon i
1.25%
Modified duration i
18.4 yr
Convexity i
404.65
Indicative price i
47.978
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
Jun 18, 2026
priced to this date (T+1 basis)
Total to settle i
48.093
per 100 par (clean 47.978 + accrued 0.115) · ≈ $4,809.31 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
47.978
Dirty price i
48.093
Accrued interest i
0.115
per 100 par
Yield to maturity i
5.01%
Yield to worst i
5.01%
Current yield i
2.61%
Modified duration i
18.4 yr
Macaulay duration i
18.8 yr
Convexity i
404.65
DV01 i
0.0883
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 0.984320.615
May 15, 20270.625 0.964840.603
Nov 15, 20270.625 0.944600.590
May 15, 20280.625 0.924090.578
Nov 15, 20280.625 0.904670.565
May 15, 20290.625 0.886260.554
Nov 15, 20290.625 0.867670.542
May 15, 20300.625 0.849620.531
Nov 15, 20300.625 0.831580.520
May 15, 20310.625 0.814120.509
Nov 15, 20310.625 0.795970.497
May 15, 20320.625 0.778050.486
Nov 15, 20320.625 0.760100.475
May 15, 20330.625 0.742620.464
Nov 15, 20330.625 0.725410.453
May 15, 20340.625 0.708780.443
Nov 15, 20340.625 0.692100.433
May 15, 20350.625 0.675910.422
Nov 15, 20350.625 0.659670.412
May 15, 20360.625 0.643830.402
Nov 15, 20360.625 0.627880.392
May 15, 20370.625 0.612360.383
Nov 15, 20370.625 0.596790.373
May 15, 20380.625 0.581690.364
Nov 15, 20380.625 0.566550.354
May 15, 20390.625 0.551870.345
Nov 15, 20390.625 0.537160.336
May 15, 20400.625 0.522820.327
Nov 15, 20400.625 0.508540.318
May 15, 20410.625 0.494710.309
Nov 15, 20410.625 0.480860.301
May 15, 20420.625 0.467440.292
Nov 15, 20420.625 0.454010.284
May 15, 20430.625 0.441010.276
Nov 15, 20430.625 0.428010.268
May 15, 20440.625 0.415360.260
Nov 15, 20440.625 0.402780.252
May 15, 20450.625 0.390610.244
Nov 15, 20450.625 0.378440.237
May 15, 20460.625 0.366680.229
Nov 15, 20460.625 0.357440.223
May 15, 20470.625 0.349010.218
Nov 15, 20470.625 0.340640.213
May 15, 20480.625 0.332570.208
Nov 15, 20480.625 0.324610.203
May 15, 20490.625 0.316970.198
Nov 15, 20490.625 0.309380.193
May 15, 2050100.625 0.3021030.399
Sum of present values 48.093

Present values sum to the dirty price; subtract 0.115 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +44.79% 69.469
-100 bp (-1.0%) +20.37% 57.752
+100 bp (+1.0%) -16.33% 40.144
+200 bp (+2.0%) -28.61% 34.252

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (18.4 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.