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Note Public

U.S. Treasury 4.62% Note due Feb 15, 2035

CUSIP 91282CMM0 · 9-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.41%
annualized · YTW equals YTM (non-callable)
Current yield i
4.56%
Coupon i
4.62%
Modified duration i
7.0 yr
Convexity i
58.73
Indicative price i
101.530
indicative model price — not a tradable quote
real auctioned at 101.490 · 4.43% high yield (Apr 9, 2025) · reopening — at issuance, not a current price
Settles i
Jun 18, 2026
priced to this date (T+1 basis)
Total to settle i
103.102
per 100 par (clean 101.530 + accrued 1.571) · ≈ $10,310.17 per $10,000 face
Next coupon i
Aug 15, 2026
2.312 per 100 · $231.25 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Apr 2025par 100 · Feb 203518 coupons remaining + principal

Terms fetched

Type Note Coupon-paying, 2 to 10 years. Interest every six months.
Term i9-Year 10-Month
Coupon i4.62% (semiannual)
Maturity iFeb 15, 2035
Issue dateApr 15, 2025
Par value i100.00
CallableNo
Amount outstanding i$93.2B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
101.530
Dirty price i
103.102
Accrued interest i
1.571
per 100 par
Yield to maturity i
4.41%
Yield to worst i
4.41%
Current yield i
4.56%
Modified duration i
7.0 yr
Macaulay duration i
7.1 yr
Convexity i
58.73
DV01 i
0.0720
per 100 par

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

Remaining cash flows

18 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20262.312 0.994142.299
Feb 15, 20272.312 0.974422.253
Aug 15, 20272.312 0.954802.208
Feb 15, 20282.312 0.934292.161
Aug 15, 20282.312 0.914172.114
Feb 15, 20292.312 0.895262.070
Aug 15, 20292.312 0.876952.028
Feb 15, 20302.312 0.858461.985
Aug 15, 20302.312 0.840571.944
Feb 15, 20312.312 0.822671.902
Aug 15, 20312.312 0.805091.862
Feb 15, 20322.312 0.786891.820
Aug 15, 20322.312 0.769051.778
Feb 15, 20332.312 0.751191.737
Aug 15, 20332.312 0.733951.697
Feb 15, 20342.312 0.716931.658
Aug 15, 20342.312 0.700411.620
Feb 15, 2035102.312 0.6838469.965
Sum of present values 103.102

Present values sum to the dirty price; subtract 1.571 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +15.14% 116.903
-100 bp (-1.0%) +7.28% 108.919
+100 bp (+1.0%) -6.69% 94.738
+200 bp (+2.0%) -12.79% 88.542

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (7.0 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 →
3.834.324.81Jan 2026Jun 2026

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