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Bond Public

U.S. Treasury 4.25% Bond due Aug 15, 2054

CUSIP 912810UC0 · 29-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.91%
annualized · YTW equals YTM (non-callable)
Current yield i
4.73%
Coupon i
4.25%
Modified duration i
15.4 yr
Convexity i
343.32
Indicative price i
89.929
indicative model price — not a tradable quote
real auctioned at 97.690 · 4.39% high yield (Oct 10, 2024) · reopening — at issuance, not a current price
Settles i
Jun 18, 2026
priced to this date (T+1 basis)
Total to settle i
91.373
per 100 par (clean 89.929 + accrued 1.444) · ≈ $9,137.34 per $10,000 face
Next coupon i
Aug 15, 2026
2.125 per 100 · $212.50 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Oct 2024par 100 · Aug 205457 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i29-Year 10-Month
Coupon i4.25% (semiannual)
Maturity iAug 15, 2054
Issue dateOct 15, 2024
Par value i100.00
CallableNo
Amount outstanding i$52.0B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
89.929
Dirty price i
91.373
Accrued interest i
1.444
per 100 par
Yield to maturity i
4.91%
Yield to worst i
4.91%
Current yield i
4.73%
Modified duration i
15.4 yr
Macaulay duration i
15.8 yr
Convexity i
343.32
DV01 i
0.1406
per 100 par

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

Remaining cash flows

57 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20262.125 0.994142.113
Feb 15, 20272.125 0.974422.071
Aug 15, 20272.125 0.954802.029
Feb 15, 20282.125 0.934291.985
Aug 15, 20282.125 0.914171.943
Feb 15, 20292.125 0.895261.902
Aug 15, 20292.125 0.876951.864
Feb 15, 20302.125 0.858461.824
Aug 15, 20302.125 0.840571.786
Feb 15, 20312.125 0.822671.748
Aug 15, 20312.125 0.805091.711
Feb 15, 20322.125 0.786891.672
Aug 15, 20322.125 0.769051.634
Feb 15, 20332.125 0.751191.596
Aug 15, 20332.125 0.733951.560
Feb 15, 20342.125 0.716931.523
Aug 15, 20342.125 0.700411.488
Feb 15, 20352.125 0.683841.453
Aug 15, 20352.125 0.667761.419
Feb 15, 20362.125 0.651641.385
Aug 15, 20362.125 0.635851.351
Feb 15, 20372.125 0.619961.317
Aug 15, 20372.125 0.604551.285
Feb 15, 20382.125 0.589091.252
Aug 15, 20382.125 0.574091.220
Feb 15, 20392.125 0.559061.188
Aug 15, 20392.125 0.544491.157
Feb 15, 20402.125 0.529891.126
Aug 15, 20402.125 0.515661.096
Feb 15, 20412.125 0.501481.066
Aug 15, 20412.125 0.487751.036
Feb 15, 20422.125 0.474011.007
Aug 15, 20422.125 0.460700.979
Feb 15, 20432.125 0.447380.951
Aug 15, 20432.125 0.434480.923
Feb 15, 20442.125 0.421590.896
Aug 15, 20442.125 0.409040.869
Feb 15, 20452.125 0.396560.843
Aug 15, 20452.125 0.384500.817
Feb 15, 20462.125 0.372440.791
Aug 15, 20462.125 0.361800.769
Feb 15, 20472.125 0.353130.750
Aug 15, 20472.125 0.344800.733
Feb 15, 20482.125 0.336540.715
Aug 15, 20482.125 0.328570.698
Feb 15, 20492.125 0.320700.681
Aug 15, 20492.125 0.313150.665
Feb 15, 20502.125 0.305660.650
Aug 15, 20502.125 0.298470.634
Feb 15, 20512.125 0.291340.619
Aug 15, 20512.125 0.284490.605
Feb 15, 20522.125 0.277700.590
Aug 15, 20522.125 0.271140.576
Feb 15, 20532.125 0.264670.562
Aug 15, 20532.125 0.258460.549
Feb 15, 20542.125 0.252300.536
Aug 15, 2054102.125 0.2463925.163
Sum of present values 91.373

Present values sum to the dirty price; subtract 1.444 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +37.65% 123.786
-100 bp (-1.0%) +17.11% 105.314
+100 bp (+1.0%) -13.67% 77.632
+200 bp (+2.0%) -23.92% 68.422

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (15.4 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.