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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
5.23%
annualized · YTW equals YTM (non-callable)
Current yield i
4.90%
Coupon i
4.12%
Modified duration i
14.8 yr
Convexity i
319.09
Indicative price i
84.146
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
Jul 29, 2026
priced to this date (T+1 basis)
Total to settle i
86.015
per 100 par (clean 84.146 + accrued 1.869) · ≈ $8,601.51 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
84.146
Dirty price i
86.015
Accrued interest i
1.869
per 100 par
Yield to maturity i
5.23%
Yield to worst i
5.23%
Current yield i
4.90%
Modified duration i
14.8 yr
Macaulay duration i
15.2 yr
Convexity i
319.09
DV01 i
0.1274
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 0.998282.059
Feb 15, 20272.062 0.978552.018
Aug 15, 20272.062 0.958911.978
Feb 15, 20282.062 0.938411.935
Aug 15, 20282.062 0.917831.893
Feb 15, 20292.062 0.897861.852
Aug 15, 20292.062 0.878371.812
Feb 15, 20302.062 0.859121.772
Aug 15, 20302.062 0.840421.733
Feb 15, 20312.062 0.821651.695
Aug 15, 20312.062 0.803361.657
Feb 15, 20322.062 0.784341.618
Aug 15, 20322.062 0.765671.579
Feb 15, 20332.062 0.746941.541
Aug 15, 20332.062 0.728721.503
Feb 15, 20342.062 0.710831.466
Aug 15, 20342.062 0.693451.430
Feb 15, 20352.062 0.675991.394
Aug 15, 20352.062 0.659031.359
Feb 15, 20362.062 0.642011.324
Aug 15, 20362.062 0.625381.290
Feb 15, 20372.062 0.608781.256
Aug 15, 20372.062 0.592661.222
Feb 15, 20382.062 0.576491.189
Aug 15, 20382.062 0.560811.157
Feb 15, 20392.062 0.545101.124
Aug 15, 20392.062 0.529861.093
Feb 15, 20402.062 0.514601.061
Aug 15, 20402.062 0.499731.031
Feb 15, 20412.062 0.484921.000
Aug 15, 20412.062 0.470580.971
Feb 15, 20422.062 0.456240.941
Aug 15, 20422.062 0.442350.912
Feb 15, 20432.062 0.428450.884
Aug 15, 20432.062 0.415010.856
Feb 15, 20442.062 0.401580.828
Aug 15, 20442.062 0.388520.801
Feb 15, 20452.062 0.375540.775
Aug 15, 20452.062 0.362990.749
Feb 15, 20462.062 0.350470.723
Aug 15, 20462.062 0.338790.699
Feb 15, 20472.062 0.330180.681
Aug 15, 20472.062 0.321930.664
Feb 15, 20482.062 0.313750.647
Aug 15, 20482.062 0.305880.631
Feb 15, 20492.062 0.298120.615
Aug 15, 20492.062 0.290680.600
Feb 15, 20502.062 0.283310.584
Aug 15, 20502.062 0.276250.570
Feb 15, 20512.062 0.269250.555
Aug 15, 20512.062 0.262550.542
Feb 15, 20522.062 0.255900.528
Aug 15, 20522.062 0.249500.515
Feb 15, 20532.062 0.243190.502
Aug 15, 2053102.062 0.2371524.204
Sum of present values 86.015

Present values sum to the dirty price; subtract 1.869 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +36.0% 114.438
-100 bp (-1.0%) +16.4% 97.949
+100 bp (+1.0%) -13.21% 73.028
+200 bp (+2.0%) -23.23% 64.595

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (14.8 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.