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Bond Public

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

CUSIP 912810SR0 · 19-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.95%
annualized · YTW equals YTM (non-callable)
Current yield i
1.81%
Coupon i
1.12%
Modified duration i
12.1 yr
Convexity i
163.64
Indicative price i
62.083
indicative model price — not a tradable quote
real auctioned at 101.175 · 1.06% high yield (Jul 22, 2020) · reopening — at issuance, not a current price
Settles i
Jul 29, 2026
priced to this date (T+1 basis)
Total to settle i
62.312
per 100 par (clean 62.083 + accrued 0.229) · ≈ $6,231.22 per $10,000 face
Next coupon i
Nov 15, 2026
0.562 per 100 · $56.25 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Jul 2020par 100 · May 204028 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 iMay 15, 2040
Issue dateJul 31, 2020
Par value i100.00
CallableNo
Amount outstanding i$41.4B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
62.083
Dirty price i
62.312
Accrued interest i
0.229
per 100 par
Yield to maturity i
4.95%
Yield to worst i
4.95%
Current yield i
1.81%
Modified duration i
12.1 yr
Macaulay duration i
12.4 yr
Convexity i
163.64
DV01 i
0.0755
per 100 par

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

Remaining cash flows

28 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Nov 15, 20260.562 0.988600.556
May 15, 20270.562 0.968930.545
Nov 15, 20270.562 0.948710.534
May 15, 20280.562 0.928230.522
Nov 15, 20280.562 0.907830.511
May 15, 20290.562 0.888240.500
Nov 15, 20290.562 0.868720.489
May 15, 20300.562 0.849900.478
Nov 15, 20300.562 0.831010.467
May 15, 20310.562 0.812660.457
Nov 15, 20310.562 0.793830.447
May 15, 20320.562 0.775080.436
Nov 15, 20320.562 0.756280.425
May 15, 20330.562 0.737930.415
Nov 15, 20330.562 0.719750.405
May 15, 20340.562 0.702260.395
Nov 15, 20340.562 0.684690.385
May 15, 20350.562 0.667620.376
Nov 15, 20350.562 0.650490.366
May 15, 20360.562 0.633760.356
Nov 15, 20360.562 0.617050.347
May 15, 20370.562 0.600820.338
Nov 15, 20370.562 0.584540.329
May 15, 20380.562 0.568750.320
Nov 15, 20380.562 0.552920.311
May 15, 20390.562 0.537580.302
Nov 15, 20390.562 0.522200.294
May 15, 2040100.562 0.5072251.007
Sum of present values 62.312

Present values sum to the dirty price; subtract 0.229 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +27.51% 79.163
-100 bp (-1.0%) +12.94% 70.115
+100 bp (+1.0%) -11.3% 55.067
+200 bp (+2.0%) -20.97% 49.067

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (12.1 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 →
3.824.344.86Jan 2026Jul 2026

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