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Bond Public

U.S. Treasury 3.25% Bond due May 15, 2042

CUSIP 912810TH1 · 19-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.75%
annualized · YTW equals YTM (non-callable)
Current yield i
3.90%
Coupon i
3.25%
Modified duration i
11.8 yr
Convexity i
172.31
Indicative price i
83.336
indicative model price — not a tradable quote
real auctioned at 97.563 · 3.42% high yield (Jul 20, 2022) · reopening — at issuance, not a current price
Settles i
Jun 18, 2026
priced to this date (T+1 basis)
Total to settle i
83.636
per 100 par (clean 83.336 + accrued 0.300) · ≈ $8,363.60 per $10,000 face
Next coupon i
Nov 15, 2026
1.625 per 100 · $162.50 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Aug 2022par 100 · May 204232 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i19-Year 10-Month
Coupon i3.25% (semiannual)
Maturity iMay 15, 2042
Issue dateAug 1, 2022
Par value i100.00
CallableNo
Amount outstanding i$34.6B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
83.336
Dirty price i
83.636
Accrued interest i
0.300
per 100 par
Yield to maturity i
4.75%
Yield to worst i
4.75%
Current yield i
3.90%
Modified duration i
11.8 yr
Macaulay duration i
12.1 yr
Convexity i
172.31
DV01 i
0.0990
per 100 par

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

Remaining cash flows

32 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Nov 15, 20261.625 0.984321.600
May 15, 20271.625 0.964841.568
Nov 15, 20271.625 0.944601.535
May 15, 20281.625 0.924091.502
Nov 15, 20281.625 0.904671.470
May 15, 20291.625 0.886261.440
Nov 15, 20291.625 0.867671.410
May 15, 20301.625 0.849621.381
Nov 15, 20301.625 0.831581.351
May 15, 20311.625 0.814121.323
Nov 15, 20311.625 0.795971.293
May 15, 20321.625 0.778051.264
Nov 15, 20321.625 0.760101.235
May 15, 20331.625 0.742621.207
Nov 15, 20331.625 0.725411.179
May 15, 20341.625 0.708781.152
Nov 15, 20341.625 0.692101.125
May 15, 20351.625 0.675911.098
Nov 15, 20351.625 0.659671.072
May 15, 20361.625 0.643831.046
Nov 15, 20361.625 0.627881.020
May 15, 20371.625 0.612360.995
Nov 15, 20371.625 0.596790.970
May 15, 20381.625 0.581690.945
Nov 15, 20381.625 0.566550.921
May 15, 20391.625 0.551870.897
Nov 15, 20391.625 0.537160.873
May 15, 20401.625 0.522820.850
Nov 15, 20401.625 0.508540.826
May 15, 20411.625 0.494710.804
Nov 15, 20411.625 0.480860.781
May 15, 2042101.625 0.4674447.503
Sum of present values 83.636

Present values sum to the dirty price; subtract 0.300 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +27.11% 105.931
-100 bp (-1.0%) +12.7% 93.915
+100 bp (+1.0%) -10.97% 74.192
+200 bp (+2.0%) -20.22% 66.484

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 →
4.454.885.31Jan 2026Jun 2026

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