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Bond Public

U.S. Treasury 4.62% Bond due May 15, 2044

CUSIP 912810UB2 · 19-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
5.11%
annualized · YTW equals YTM (non-callable)
Current yield i
4.90%
Coupon i
4.62%
Modified duration i
11.7 yr
Convexity i
180.86
Indicative price i
94.411
indicative model price — not a tradable quote
real auctioned at 102.062 · 4.47% high yield (Jul 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
95.354
per 100 par (clean 94.411 + accrued 0.943) · ≈ $9,535.35 per $10,000 face
Next coupon i
Nov 15, 2026
2.312 per 100 · $231.25 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Jul 2024par 100 · May 204436 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i19-Year 10-Month
Coupon i4.62% (semiannual)
Maturity iMay 15, 2044
Issue dateJul 31, 2024
Par value i100.00
CallableNo
Amount outstanding i$30.4B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
94.411
Dirty price i
95.354
Accrued interest i
0.943
per 100 par
Yield to maturity i
5.11%
Yield to worst i
5.11%
Current yield i
4.90%
Modified duration i
11.7 yr
Macaulay duration i
12.0 yr
Convexity i
180.86
DV01 i
0.1118
per 100 par

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

Remaining cash flows

36 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Nov 15, 20262.312 0.988602.286
May 15, 20272.312 0.968932.241
Nov 15, 20272.312 0.948712.194
May 15, 20282.312 0.928232.147
Nov 15, 20282.312 0.907832.099
May 15, 20292.312 0.888242.054
Nov 15, 20292.312 0.868722.009
May 15, 20302.312 0.849901.965
Nov 15, 20302.312 0.831011.922
May 15, 20312.312 0.812661.879
Nov 15, 20312.312 0.793831.836
May 15, 20322.312 0.775081.792
Nov 15, 20322.312 0.756281.749
May 15, 20332.312 0.737931.706
Nov 15, 20332.312 0.719751.664
May 15, 20342.312 0.702261.624
Nov 15, 20342.312 0.684691.583
May 15, 20352.312 0.667621.544
Nov 15, 20352.312 0.650491.504
May 15, 20362.312 0.633761.466
Nov 15, 20362.312 0.617051.427
May 15, 20372.312 0.600821.389
Nov 15, 20372.312 0.584541.352
May 15, 20382.312 0.568751.315
Nov 15, 20382.312 0.552921.279
May 15, 20392.312 0.537581.243
Nov 15, 20392.312 0.522201.208
May 15, 20402.312 0.507221.173
Nov 15, 20402.312 0.492301.138
May 15, 20412.312 0.477841.105
Nov 15, 20412.312 0.463381.072
May 15, 20422.312 0.449381.039
Nov 15, 20422.312 0.435371.007
May 15, 20432.312 0.421810.975
Nov 15, 20432.312 0.408270.944
May 15, 2044102.312 0.3950940.422
Sum of present values 95.354

Present values sum to the dirty price; subtract 0.943 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +27.06% 119.955
-100 bp (-1.0%) +12.62% 106.329
+100 bp (+1.0%) -10.82% 84.200
+200 bp (+2.0%) -19.82% 75.697

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 →
4.444.895.34Jan 2026Jul 2026

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