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Bond Public

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

CUSIP 912810UF3 · 19-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.85%
annualized · YTW equals YTM (non-callable)
Current yield i
4.75%
Coupon i
4.62%
Modified duration i
12.1 yr
Convexity i
193.53
Indicative price i
97.302
indicative model price — not a tradable quote
real auctioned at 96.527 · 4.90% high yield (Jan 22, 2025) · reopening — at issuance, not a current price
Settles i
Jun 18, 2026
priced to this date (T+1 basis)
Total to settle i
97.730
per 100 par (clean 97.302 + accrued 0.427) · ≈ $9,772.95 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 Jan 2025par 100 · Nov 204437 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 iNov 15, 2044
Issue dateJan 31, 2025
Par value i100.00
CallableNo
Amount outstanding i$30.2B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
97.302
Dirty price i
97.730
Accrued interest i
0.427
per 100 par
Yield to maturity i
4.85%
Yield to worst i
4.85%
Current yield i
4.75%
Modified duration i
12.1 yr
Macaulay duration i
12.4 yr
Convexity i
193.53
DV01 i
0.1187
per 100 par

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

Remaining cash flows

37 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Nov 15, 20262.312 0.984322.276
May 15, 20272.312 0.964842.231
Nov 15, 20272.312 0.944602.184
May 15, 20282.312 0.924092.137
Nov 15, 20282.312 0.904672.092
May 15, 20292.312 0.886262.049
Nov 15, 20292.312 0.867672.006
May 15, 20302.312 0.849621.965
Nov 15, 20302.312 0.831581.923
May 15, 20312.312 0.814121.883
Nov 15, 20312.312 0.795971.841
May 15, 20322.312 0.778051.799
Nov 15, 20322.312 0.760101.758
May 15, 20332.312 0.742621.717
Nov 15, 20332.312 0.725411.678
May 15, 20342.312 0.708781.639
Nov 15, 20342.312 0.692101.600
May 15, 20352.312 0.675911.563
Nov 15, 20352.312 0.659671.525
May 15, 20362.312 0.643831.489
Nov 15, 20362.312 0.627881.452
May 15, 20372.312 0.612361.416
Nov 15, 20372.312 0.596791.380
May 15, 20382.312 0.581691.345
Nov 15, 20382.312 0.566551.310
May 15, 20392.312 0.551871.276
Nov 15, 20392.312 0.537161.242
May 15, 20402.312 0.522821.209
Nov 15, 20402.312 0.508541.176
May 15, 20412.312 0.494711.144
Nov 15, 20412.312 0.480861.112
May 15, 20422.312 0.467441.081
Nov 15, 20422.312 0.454011.050
May 15, 20432.312 0.441011.020
Nov 15, 20432.312 0.428010.990
May 15, 20442.312 0.415360.961
Nov 15, 2044102.312 0.4027841.209
Sum of present values 97.730

Present values sum to the dirty price; subtract 0.427 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +28.17% 124.712
-100 bp (-1.0%) +13.12% 110.066
+100 bp (+1.0%) -11.18% 86.422
+200 bp (+2.0%) -20.43% 77.425

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (12.1 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.