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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
5.08%
annualized · YTW equals YTM (non-callable)
Current yield i
4.93%
Coupon i
4.75%
Modified duration i
11.5 yr
Convexity i
172.47
Indicative price i
96.274
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
Jul 29, 2026
priced to this date (T+1 basis)
Total to settle i
97.242
per 100 par (clean 96.274 + accrued 0.968) · ≈ $9,724.22 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
96.274
Dirty price i
97.242
Accrued interest i
0.968
per 100 par
Yield to maturity i
5.08%
Yield to worst i
5.08%
Current yield i
4.93%
Modified duration i
11.5 yr
Macaulay duration i
11.8 yr
Convexity i
172.47
DV01 i
0.1115
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 0.988602.348
May 15, 20272.375 0.968932.301
Nov 15, 20272.375 0.948712.253
May 15, 20282.375 0.928232.205
Nov 15, 20282.375 0.907832.156
May 15, 20292.375 0.888242.110
Nov 15, 20292.375 0.868722.063
May 15, 20302.375 0.849902.019
Nov 15, 20302.375 0.831011.974
May 15, 20312.375 0.812661.930
Nov 15, 20312.375 0.793831.885
May 15, 20322.375 0.775081.841
Nov 15, 20322.375 0.756281.796
May 15, 20332.375 0.737931.753
Nov 15, 20332.375 0.719751.709
May 15, 20342.375 0.702261.668
Nov 15, 20342.375 0.684691.626
May 15, 20352.375 0.667621.586
Nov 15, 20352.375 0.650491.545
May 15, 20362.375 0.633761.505
Nov 15, 20362.375 0.617051.465
May 15, 20372.375 0.600821.427
Nov 15, 20372.375 0.584541.388
May 15, 20382.375 0.568751.351
Nov 15, 20382.375 0.552921.313
May 15, 20392.375 0.537581.277
Nov 15, 20392.375 0.522201.240
May 15, 20402.375 0.507221.205
Nov 15, 20402.375 0.492301.169
May 15, 20412.375 0.477841.135
Nov 15, 20412.375 0.463381.101
May 15, 20422.375 0.449381.067
Nov 15, 20422.375 0.435371.034
May 15, 20432.375 0.421811.002
Nov 15, 2043102.375 0.4082741.796
Sum of present values 97.242

Present values sum to the dirty price; subtract 0.968 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +26.37% 121.665
-100 bp (-1.0%) +12.32% 108.139
+100 bp (+1.0%) -10.6% 86.069
+200 bp (+2.0%) -19.47% 77.525

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (11.5 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 →
4.444.895.34Jan 2026Jul 2026

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