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Bond Public

U.S. Treasury 2.25% Bond due May 15, 2041

CUSIP 912810SY5 · 19-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.99%
annualized · YTW equals YTM (non-callable)
Current yield i
3.14%
Coupon i
2.25%
Modified duration i
11.8 yr
Convexity i
164.88
Indicative price i
71.598
indicative model price — not a tradable quote
real auctioned at 105.917 · 1.89% high yield (Jul 21, 2021) · reopening — at issuance, not a current price
Settles i
Jul 29, 2026
priced to this date (T+1 basis)
Total to settle i
72.057
per 100 par (clean 71.598 + accrued 0.459) · ≈ $7,205.70 per $10,000 face
Next coupon i
Nov 15, 2026
1.125 per 100 · $112.50 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Aug 2021par 100 · May 204130 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i19-Year 10-Month
Coupon i2.25% (semiannual)
Maturity iMay 15, 2041
Issue dateAug 2, 2021
Par value i100.00
CallableNo
Amount outstanding i$59.9B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
71.598
Dirty price i
72.057
Accrued interest i
0.459
per 100 par
Yield to maturity i
4.99%
Yield to worst i
4.99%
Current yield i
3.14%
Modified duration i
11.8 yr
Macaulay duration i
12.1 yr
Convexity i
164.88
DV01 i
0.0851
per 100 par

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

Remaining cash flows

30 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Nov 15, 20261.125 0.988601.112
May 15, 20271.125 0.968931.090
Nov 15, 20271.125 0.948711.067
May 15, 20281.125 0.928231.044
Nov 15, 20281.125 0.907831.021
May 15, 20291.125 0.888240.999
Nov 15, 20291.125 0.868720.977
May 15, 20301.125 0.849900.956
Nov 15, 20301.125 0.831010.935
May 15, 20311.125 0.812660.914
Nov 15, 20311.125 0.793830.893
May 15, 20321.125 0.775080.872
Nov 15, 20321.125 0.756280.851
May 15, 20331.125 0.737930.830
Nov 15, 20331.125 0.719750.810
May 15, 20341.125 0.702260.790
Nov 15, 20341.125 0.684690.770
May 15, 20351.125 0.667620.751
Nov 15, 20351.125 0.650490.732
May 15, 20361.125 0.633760.713
Nov 15, 20361.125 0.617050.694
May 15, 20371.125 0.600820.676
Nov 15, 20371.125 0.584540.658
May 15, 20381.125 0.568750.640
Nov 15, 20381.125 0.552920.622
May 15, 20391.125 0.537580.605
Nov 15, 20391.125 0.522200.587
May 15, 20401.125 0.507220.571
Nov 15, 20401.125 0.492300.554
May 15, 2041101.125 0.4778448.322
Sum of present values 72.057

Present values sum to the dirty price; subtract 0.459 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +26.91% 90.863
-100 bp (-1.0%) +12.63% 80.641
+100 bp (+1.0%) -10.98% 63.737
+200 bp (+2.0%) -20.31% 57.056

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (11.8 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.