Note Public

U.S. Treasury 4.00% Note due Jun 30, 2032

CUSIP 91282CNJ6 · 7-Year · coupon paid semiannually

AAA·Govt

Yield to maturity i

4.44%

annualized · YTW equals YTM (non-callable)

Current yield i

4.09%

Coupon i

4.00%

Modified duration i

5.2 yr

Convexity i

31.42

Indicative price i

97.728

indicative model price — not a tradable quote

real auctioned at 99.867 · 4.02% high yield (Jun 26, 2025) — at issuance, not a current price

Settles i

Jul 29, 2026

priced to this date (T+1 basis)

Total to settle i

98.044

per 100 par (clean 97.728 + accrued 0.317) · ≈ $9,804.45 per $10,000 face

Next coupon i

Dec 30, 2026

2.000 per 100 · $200.00 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today

Terms fetched

Type	Note Coupon-paying, 2 to 10 years. Interest every six months.
Term i	7-Year
Coupon i	4.00% (semiannual)
Maturity i	Jun 30, 2032
Issue date	Jun 30, 2025
Par value i	100.00
Callable	No
Amount outstanding i	—
Credit	AAA·Govt

Look up on TreasuryDirect

Computed metrics computed

Clean price i

97.728

Dirty price i

98.044

Accrued interest i

0.317

per 100 par

Yield to maturity i

4.44%

Yield to worst i

4.44%

Current yield i

4.09%

Modified duration i

5.2 yr

Macaulay duration i

5.3 yr

Convexity i

31.42

DV01 i

0.0509

per 100 par

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

Remaining cash flows

12 payments, discounted off today's curve

Date	Cash flow	Discount factor	Present value
Dec 30, 2026	2.000	0.98367	1.967
Jun 30, 2027	2.000	0.96394	1.928
Dec 30, 2027	2.000	0.94369	1.887
Jun 30, 2028	2.000	0.92299	1.846
Dec 30, 2028	2.000	0.90295	1.806
Jun 30, 2029	2.000	0.88328	1.767
Dec 30, 2029	2.000	0.86402	1.728
Jun 30, 2030	2.000	0.84515	1.690
Dec 30, 2030	2.000	0.82642	1.653
Jun 30, 2031	2.000	0.80803	1.616
Dec 30, 2031	2.000	0.78918	1.578
Jun 30, 2032	102.000	0.77037	78.578
Sum of present values			98.044

Present values sum to the dirty price; subtract 0.317 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity

Parallel rate move	Approx. price change	Approx. indicative price
-200 bp (-2.0%)	+11.01%	108.486
-100 bp (-1.0%)	+5.35%	102.953
+100 bp (+1.0%)	-5.03%	92.809
+200 bp (+2.0%)	-9.75%	88.197

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (5.2 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 →

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