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Bond Public

U.S. Treasury 3.62% Bond due Feb 15, 2053

CUSIP 912810TN8 · 29-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.93%
annualized · YTW equals YTM (non-callable)
Current yield i
4.49%
Coupon i
3.62%
Modified duration i
15.5 yr
Convexity i
339.03
Indicative price i
80.784
indicative model price — not a tradable quote
real auctioned at 99.343 · 3.66% high yield (Apr 13, 2023) · reopening — at issuance, not a current price
Settles i
Jun 18, 2026
priced to this date (T+1 basis)
Total to settle i
82.015
per 100 par (clean 80.784 + accrued 1.232) · ≈ $8,201.53 per $10,000 face
Next coupon i
Aug 15, 2026
1.812 per 100 · $181.25 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Apr 2023par 100 · Feb 205354 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i29-Year 10-Month
Coupon i3.62% (semiannual)
Maturity iFeb 15, 2053
Issue dateApr 17, 2023
Par value i100.00
CallableNo
Amount outstanding i$47.2B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
80.784
Dirty price i
82.015
Accrued interest i
1.232
per 100 par
Yield to maturity i
4.93%
Yield to worst i
4.93%
Current yield i
4.49%
Modified duration i
15.5 yr
Macaulay duration i
15.9 yr
Convexity i
339.03
DV01 i
0.1273
per 100 par

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

Remaining cash flows

54 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20261.812 0.994141.802
Feb 15, 20271.812 0.974421.766
Aug 15, 20271.812 0.954801.731
Feb 15, 20281.812 0.934291.693
Aug 15, 20281.812 0.914171.657
Feb 15, 20291.812 0.895261.623
Aug 15, 20291.812 0.876951.589
Feb 15, 20301.812 0.858461.556
Aug 15, 20301.812 0.840571.524
Feb 15, 20311.812 0.822671.491
Aug 15, 20311.812 0.805091.459
Feb 15, 20321.812 0.786891.426
Aug 15, 20321.812 0.769051.394
Feb 15, 20331.812 0.751191.362
Aug 15, 20331.812 0.733951.330
Feb 15, 20341.812 0.716931.299
Aug 15, 20341.812 0.700411.269
Feb 15, 20351.812 0.683841.239
Aug 15, 20351.812 0.667761.210
Feb 15, 20361.812 0.651641.181
Aug 15, 20361.812 0.635851.152
Feb 15, 20371.812 0.619961.124
Aug 15, 20371.812 0.604551.096
Feb 15, 20381.812 0.589091.068
Aug 15, 20381.812 0.574091.041
Feb 15, 20391.812 0.559061.013
Aug 15, 20391.812 0.544490.987
Feb 15, 20401.812 0.529890.960
Aug 15, 20401.812 0.515660.935
Feb 15, 20411.812 0.501480.909
Aug 15, 20411.812 0.487750.884
Feb 15, 20421.812 0.474010.859
Aug 15, 20421.812 0.460700.835
Feb 15, 20431.812 0.447380.811
Aug 15, 20431.812 0.434480.787
Feb 15, 20441.812 0.421590.764
Aug 15, 20441.812 0.409040.741
Feb 15, 20451.812 0.396560.719
Aug 15, 20451.812 0.384500.697
Feb 15, 20461.812 0.372440.675
Aug 15, 20461.812 0.361800.656
Feb 15, 20471.812 0.353130.640
Aug 15, 20471.812 0.344800.625
Feb 15, 20481.812 0.336540.610
Aug 15, 20481.812 0.328570.596
Feb 15, 20491.812 0.320700.581
Aug 15, 20491.812 0.313150.568
Feb 15, 20501.812 0.305660.554
Aug 15, 20501.812 0.298470.541
Feb 15, 20511.812 0.291340.528
Aug 15, 20511.812 0.284490.516
Feb 15, 20521.812 0.277700.503
Aug 15, 20521.812 0.271140.491
Feb 15, 2053101.812 0.2646726.947
Sum of present values 82.015

Present values sum to the dirty price; subtract 1.232 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +37.83% 111.342
-100 bp (-1.0%) +17.22% 94.694
+100 bp (+1.0%) -13.83% 69.612
+200 bp (+2.0%) -24.27% 61.180

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (15.5 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 →
4.534.915.29Jan 2026Jun 2026

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