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Bond Public

U.S. Treasury 4.12% Bond due Aug 15, 2053

CUSIP 912810TT5 · 29-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.92%
annualized · YTW equals YTM (non-callable)
Current yield i
4.68%
Coupon i
4.12%
Modified duration i
15.2 yr
Convexity i
332.02
Indicative price i
88.188
indicative model price — not a tradable quote
real auctioned at 88.806 · 4.84% high yield (Oct 12, 2023) · reopening — at issuance, not a current price
Settles i
Jun 18, 2026
priced to this date (T+1 basis)
Total to settle i
89.589
per 100 par (clean 88.188 + accrued 1.402) · ≈ $8,958.93 per $10,000 face
Next coupon i
Aug 15, 2026
2.062 per 100 · $206.25 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Oct 2023par 100 · Aug 205355 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i29-Year 10-Month
Coupon i4.12% (semiannual)
Maturity iAug 15, 2053
Issue dateOct 16, 2023
Par value i100.00
CallableNo
Amount outstanding i$51.6B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
88.188
Dirty price i
89.589
Accrued interest i
1.402
per 100 par
Yield to maturity i
4.92%
Yield to worst i
4.92%
Current yield i
4.68%
Modified duration i
15.2 yr
Macaulay duration i
15.6 yr
Convexity i
332.02
DV01 i
0.1364
per 100 par

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

Remaining cash flows

55 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20262.062 0.994142.050
Feb 15, 20272.062 0.974422.010
Aug 15, 20272.062 0.954801.969
Feb 15, 20282.062 0.934291.927
Aug 15, 20282.062 0.914171.885
Feb 15, 20292.062 0.895261.846
Aug 15, 20292.062 0.876951.809
Feb 15, 20302.062 0.858461.771
Aug 15, 20302.062 0.840571.734
Feb 15, 20312.062 0.822671.697
Aug 15, 20312.062 0.805091.660
Feb 15, 20322.062 0.786891.623
Aug 15, 20322.062 0.769051.586
Feb 15, 20332.062 0.751191.549
Aug 15, 20332.062 0.733951.514
Feb 15, 20342.062 0.716931.479
Aug 15, 20342.062 0.700411.445
Feb 15, 20352.062 0.683841.410
Aug 15, 20352.062 0.667761.377
Feb 15, 20362.062 0.651641.344
Aug 15, 20362.062 0.635851.311
Feb 15, 20372.062 0.619961.279
Aug 15, 20372.062 0.604551.247
Feb 15, 20382.062 0.589091.215
Aug 15, 20382.062 0.574091.184
Feb 15, 20392.062 0.559061.153
Aug 15, 20392.062 0.544491.123
Feb 15, 20402.062 0.529891.093
Aug 15, 20402.062 0.515661.064
Feb 15, 20412.062 0.501481.034
Aug 15, 20412.062 0.487751.006
Feb 15, 20422.062 0.474010.978
Aug 15, 20422.062 0.460700.950
Feb 15, 20432.062 0.447380.923
Aug 15, 20432.062 0.434480.896
Feb 15, 20442.062 0.421590.870
Aug 15, 20442.062 0.409040.844
Feb 15, 20452.062 0.396560.818
Aug 15, 20452.062 0.384500.793
Feb 15, 20462.062 0.372440.768
Aug 15, 20462.062 0.361800.746
Feb 15, 20472.062 0.353130.728
Aug 15, 20472.062 0.344800.711
Feb 15, 20482.062 0.336540.694
Aug 15, 20482.062 0.328570.678
Feb 15, 20492.062 0.320700.661
Aug 15, 20492.062 0.313150.646
Feb 15, 20502.062 0.305660.630
Aug 15, 20502.062 0.298470.616
Feb 15, 20512.062 0.291340.601
Aug 15, 20512.062 0.284490.587
Feb 15, 20522.062 0.277700.573
Aug 15, 20522.062 0.271140.559
Feb 15, 20532.062 0.264670.546
Aug 15, 2053102.062 0.2584626.379
Sum of present values 89.589

Present values sum to the dirty price; subtract 1.402 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +37.1% 120.901
-100 bp (-1.0%) +16.89% 103.080
+100 bp (+1.0%) -13.57% 76.223
+200 bp (+2.0%) -23.81% 67.186

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (15.2 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.