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Bond Public

U.S. Treasury 4.75% Bond due Nov 15, 2043

CUSIP 912810TW8 · 19-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.80%
annualized · YTW equals YTM (non-callable)
Current yield i
4.78%
Coupon i
4.75%
Modified duration i
11.7 yr
Convexity i
177.50
Indicative price i
99.424
indicative model price — not a tradable quote
real auctioned at 104.270 · 4.42% high yield (Jan 17, 2024) · reopening — at issuance, not a current price
Settles i
Jun 18, 2026
priced to this date (T+1 basis)
Total to settle i
99.862
per 100 par (clean 99.424 + accrued 0.439) · ≈ $9,986.25 per $10,000 face
Next coupon i
Nov 15, 2026
2.375 per 100 · $237.50 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Jan 2024par 100 · Nov 204335 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i19-Year 10-Month
Coupon i4.75% (semiannual)
Maturity iNov 15, 2043
Issue dateJan 31, 2024
Par value i100.00
CallableNo
Amount outstanding i$29.2B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
99.424
Dirty price i
99.862
Accrued interest i
0.439
per 100 par
Yield to maturity i
4.80%
Yield to worst i
4.80%
Current yield i
4.78%
Modified duration i
11.7 yr
Macaulay duration i
12.0 yr
Convexity i
177.50
DV01 i
0.1167
per 100 par

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

Remaining cash flows

35 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Nov 15, 20262.375 0.984322.338
May 15, 20272.375 0.964842.292
Nov 15, 20272.375 0.944602.243
May 15, 20282.375 0.924092.195
Nov 15, 20282.375 0.904672.149
May 15, 20292.375 0.886262.105
Nov 15, 20292.375 0.867672.061
May 15, 20302.375 0.849622.018
Nov 15, 20302.375 0.831581.975
May 15, 20312.375 0.814121.934
Nov 15, 20312.375 0.795971.890
May 15, 20322.375 0.778051.848
Nov 15, 20322.375 0.760101.805
May 15, 20332.375 0.742621.764
Nov 15, 20332.375 0.725411.723
May 15, 20342.375 0.708781.683
Nov 15, 20342.375 0.692101.644
May 15, 20352.375 0.675911.605
Nov 15, 20352.375 0.659671.567
May 15, 20362.375 0.643831.529
Nov 15, 20362.375 0.627881.491
May 15, 20372.375 0.612361.454
Nov 15, 20372.375 0.596791.417
May 15, 20382.375 0.581691.382
Nov 15, 20382.375 0.566551.346
May 15, 20392.375 0.551871.311
Nov 15, 20392.375 0.537161.276
May 15, 20402.375 0.522821.242
Nov 15, 20402.375 0.508541.208
May 15, 20412.375 0.494711.175
Nov 15, 20412.375 0.480861.142
May 15, 20422.375 0.467441.110
Nov 15, 20422.375 0.454011.078
May 15, 20432.375 0.441011.047
Nov 15, 2043102.375 0.4280143.817
Sum of present values 99.862

Present values sum to the dirty price; subtract 0.439 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +26.92% 126.187
-100 bp (-1.0%) +12.57% 111.923
+100 bp (+1.0%) -10.8% 88.689
+200 bp (+2.0%) -19.82% 79.719

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (11.7 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.