FRN
Public
U.S. Treasury FRN due Jul 31, 2027
CUSIP 91282CNQ0 · 1-Year 10-Month · zero-coupon
Not modelled — frn coupons reset off the 13-week treasury bill rate; indicative fixed-curve pricing would mislead. The security's terms are shown below; no
indicative price or yield is computed for this instrument type.
Cash-flow timeline
issue → maturity · each tick is a coupon · ◆ todayTerms fetched
| Type | FRN Floating Rate Note — coupon resets off the 13-week bill rate. |
| Term i | 1-Year 10-Month |
| Coupon i | None — zero-coupon |
| Maturity i | Jul 31, 2027 |
| Issue date | Sep 26, 2025 |
| Par value i | 100.00 |
| Callable | No |
| Amount outstanding i | $60.0B |
| Credit | AAA·Govt |
Computed metrics computed
Not computed for this instrument type — not modelled — FRN coupons reset off the 13-week Treasury bill rate; indicative fixed-curve pricing would mislead.
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.