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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
4.72%
annualized · YTW equals YTM (non-callable)
Current yield i
3.05%
Coupon i
2.25%
Modified duration i
12.0 yr
Convexity i
168.87
Indicative price i
73.737
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
Jun 18, 2026
priced to this date (T+1 basis)
Total to settle i
73.945
per 100 par (clean 73.737 + accrued 0.208) · ≈ $7,394.47 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
73.737
Dirty price i
73.945
Accrued interest i
0.208
per 100 par
Yield to maturity i
4.72%
Yield to worst i
4.72%
Current yield i
3.05%
Modified duration i
12.0 yr
Macaulay duration i
12.3 yr
Convexity i
168.87
DV01 i
0.0886
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 0.984321.107
May 15, 20271.125 0.964841.085
Nov 15, 20271.125 0.944601.063
May 15, 20281.125 0.924091.040
Nov 15, 20281.125 0.904671.018
May 15, 20291.125 0.886260.997
Nov 15, 20291.125 0.867670.976
May 15, 20301.125 0.849620.956
Nov 15, 20301.125 0.831580.936
May 15, 20311.125 0.814120.916
Nov 15, 20311.125 0.795970.895
May 15, 20321.125 0.778050.875
Nov 15, 20321.125 0.760100.855
May 15, 20331.125 0.742620.835
Nov 15, 20331.125 0.725410.816
May 15, 20341.125 0.708780.797
Nov 15, 20341.125 0.692100.779
May 15, 20351.125 0.675910.760
Nov 15, 20351.125 0.659670.742
May 15, 20361.125 0.643830.724
Nov 15, 20361.125 0.627880.706
May 15, 20371.125 0.612360.689
Nov 15, 20371.125 0.596790.671
May 15, 20381.125 0.581690.654
Nov 15, 20381.125 0.566550.637
May 15, 20391.125 0.551870.621
Nov 15, 20391.125 0.537160.604
May 15, 20401.125 0.522820.588
Nov 15, 20401.125 0.508540.572
May 15, 2041101.125 0.4947150.027
Sum of present values 73.945

Present values sum to the dirty price; subtract 0.208 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +27.34% 93.895
-100 bp (-1.0%) +12.82% 83.193
+100 bp (+1.0%) -11.14% 65.526
+200 bp (+2.0%) -20.58% 58.560

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (12.0 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 →
3.834.324.81Jan 2026Jun 2026

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