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Bond Public

U.S. Treasury 1.12% Bond due Aug 15, 2040

CUSIP 912810SQ2 · 19-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.71%
annualized · YTW equals YTM (non-callable)
Current yield i
1.78%
Coupon i
1.12%
Modified duration i
12.4 yr
Convexity i
171.90
Indicative price i
63.280
indicative model price — not a tradable quote
real auctioned at 95.766 · 1.37% high yield (Oct 21, 2020) · reopening — at issuance, not a current price
Settles i
Jun 18, 2026
priced to this date (T+1 basis)
Total to settle i
63.662
per 100 par (clean 63.280 + accrued 0.382) · ≈ $6,366.23 per $10,000 face
Next coupon i
Aug 15, 2026
0.562 per 100 · $56.25 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Nov 2020par 100 · Aug 204029 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i19-Year 10-Month
Coupon i1.12% (semiannual)
Maturity iAug 15, 2040
Issue dateNov 2, 2020
Par value i100.00
CallableNo
Amount outstanding i$52.2B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
63.280
Dirty price i
63.662
Accrued interest i
0.382
per 100 par
Yield to maturity i
4.71%
Yield to worst i
4.71%
Current yield i
1.78%
Modified duration i
12.4 yr
Macaulay duration i
12.7 yr
Convexity i
171.90
DV01 i
0.0790
per 100 par

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

Remaining cash flows

29 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20260.562 0.994140.559
Feb 15, 20270.562 0.974420.548
Aug 15, 20270.562 0.954800.537
Feb 15, 20280.562 0.934290.526
Aug 15, 20280.562 0.914170.514
Feb 15, 20290.562 0.895260.504
Aug 15, 20290.562 0.876950.493
Feb 15, 20300.562 0.858460.483
Aug 15, 20300.562 0.840570.473
Feb 15, 20310.562 0.822670.463
Aug 15, 20310.562 0.805090.453
Feb 15, 20320.562 0.786890.443
Aug 15, 20320.562 0.769050.433
Feb 15, 20330.562 0.751190.423
Aug 15, 20330.562 0.733950.413
Feb 15, 20340.562 0.716930.403
Aug 15, 20340.562 0.700410.394
Feb 15, 20350.562 0.683840.385
Aug 15, 20350.562 0.667760.376
Feb 15, 20360.562 0.651640.367
Aug 15, 20360.562 0.635850.358
Feb 15, 20370.562 0.619960.349
Aug 15, 20370.562 0.604550.340
Feb 15, 20380.562 0.589090.331
Aug 15, 20380.562 0.574090.323
Feb 15, 20390.562 0.559060.314
Aug 15, 20390.562 0.544490.306
Feb 15, 20400.562 0.529890.298
Aug 15, 2040100.562 0.5156651.856
Sum of present values 63.662

Present values sum to the dirty price; subtract 0.382 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +28.25% 81.158
-100 bp (-1.0%) +13.27% 71.675
+100 bp (+1.0%) -11.55% 55.973
+200 bp (+2.0%) -21.38% 49.753

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (12.4 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 →
3.834.324.81Jan 2026Jun 2026

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