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Bond Public

U.S. Treasury 2.00% Bond due Aug 15, 2051

CUSIP 912810SZ2 · 29-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
5.30%
annualized · YTW equals YTM (non-callable)
Current yield i
3.67%
Coupon i
2.00%
Modified duration i
16.8 yr
Convexity i
368.93
Indicative price i
54.569
indicative model price — not a tradable quote
real auctioned at 98.908 · 2.05% high yield (Oct 13, 2021) · reopening — at issuance, not a current price
Settles i
Jul 29, 2026
priced to this date (T+1 basis)
Total to settle i
55.475
per 100 par (clean 54.569 + accrued 0.906) · ≈ $5,547.51 per $10,000 face
Next coupon i
Aug 15, 2026
1.000 per 100 · $100.00 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Oct 2021par 100 · Aug 205151 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i29-Year 10-Month
Coupon i2.00% (semiannual)
Maturity iAug 15, 2051
Issue dateOct 15, 2021
Par value i100.00
CallableNo
Amount outstanding i$65.6B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
54.569
Dirty price i
55.475
Accrued interest i
0.906
per 100 par
Yield to maturity i
5.30%
Yield to worst i
5.30%
Current yield i
3.67%
Modified duration i
16.8 yr
Macaulay duration i
17.2 yr
Convexity i
368.93
DV01 i
0.0931
per 100 par

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

Remaining cash flows

51 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20261.000 0.998280.998
Feb 15, 20271.000 0.978550.979
Aug 15, 20271.000 0.958910.959
Feb 15, 20281.000 0.938410.938
Aug 15, 20281.000 0.917830.918
Feb 15, 20291.000 0.897860.898
Aug 15, 20291.000 0.878370.878
Feb 15, 20301.000 0.859120.859
Aug 15, 20301.000 0.840420.840
Feb 15, 20311.000 0.821650.822
Aug 15, 20311.000 0.803360.803
Feb 15, 20321.000 0.784340.784
Aug 15, 20321.000 0.765670.766
Feb 15, 20331.000 0.746940.747
Aug 15, 20331.000 0.728720.729
Feb 15, 20341.000 0.710830.711
Aug 15, 20341.000 0.693450.693
Feb 15, 20351.000 0.675990.676
Aug 15, 20351.000 0.659030.659
Feb 15, 20361.000 0.642010.642
Aug 15, 20361.000 0.625380.625
Feb 15, 20371.000 0.608780.609
Aug 15, 20371.000 0.592660.593
Feb 15, 20381.000 0.576490.576
Aug 15, 20381.000 0.560810.561
Feb 15, 20391.000 0.545100.545
Aug 15, 20391.000 0.529860.530
Feb 15, 20401.000 0.514600.515
Aug 15, 20401.000 0.499730.500
Feb 15, 20411.000 0.484920.485
Aug 15, 20411.000 0.470580.471
Feb 15, 20421.000 0.456240.456
Aug 15, 20421.000 0.442350.442
Feb 15, 20431.000 0.428450.428
Aug 15, 20431.000 0.415010.415
Feb 15, 20441.000 0.401580.402
Aug 15, 20441.000 0.388520.389
Feb 15, 20451.000 0.375540.376
Aug 15, 20451.000 0.362990.363
Feb 15, 20461.000 0.350470.350
Aug 15, 20461.000 0.338790.339
Feb 15, 20471.000 0.330180.330
Aug 15, 20471.000 0.321930.322
Feb 15, 20481.000 0.313750.314
Aug 15, 20481.000 0.305880.306
Feb 15, 20491.000 0.298120.298
Aug 15, 20491.000 0.290680.291
Feb 15, 20501.000 0.283310.283
Aug 15, 20501.000 0.276250.276
Feb 15, 20511.000 0.269250.269
Aug 15, 2051101.000 0.2625526.517
Sum of present values 55.475

Present values sum to the dirty price; subtract 0.906 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +40.93% 76.904
-100 bp (-1.0%) +18.62% 64.730
+100 bp (+1.0%) -14.93% 46.421
+200 bp (+2.0%) -26.17% 40.287

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (16.8 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 →
4.534.925.31Jan 2026Jul 2026

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