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Note Public

U.S. Treasury 3.75% Note due Oct 31, 2032

CUSIP 91282CPF2 · 7-Year · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.47%
annualized · YTW equals YTM (non-callable)
Current yield i
3.90%
Coupon i
3.75%
Modified duration i
5.4 yr
Convexity i
34.67
Indicative price i
96.124
indicative model price — not a tradable quote
real auctioned at 99.756 · 3.79% high yield (Oct 28, 2025) — at issuance, not a current price
Settles i
Jul 29, 2026
priced to this date (T+1 basis)
Total to settle i
97.041
per 100 par (clean 96.124 + accrued 0.917) · ≈ $9,704.09 per $10,000 face
Next coupon i
Oct 31, 2026
1.875 per 100 · $187.50 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Oct 2025par 100 · Oct 203213 coupons remaining + principal

Terms fetched

Type Note Coupon-paying, 2 to 10 years. Interest every six months.
Term i7-Year
Coupon i3.75% (semiannual)
Maturity iOct 31, 2032
Issue dateOct 31, 2025
Par value i100.00
CallableNo
Amount outstanding i—
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
96.124
Dirty price i
97.041
Accrued interest i
0.917
per 100 par
Yield to maturity i
4.47%
Yield to worst i
4.47%
Current yield i
3.90%
Modified duration i
5.4 yr
Macaulay duration i
5.6 yr
Convexity i
34.67
DV01 i
0.0528
per 100 par

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

Remaining cash flows

13 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Oct 31, 20261.875 0.990261.857
Apr 30, 20271.875 0.970561.820
Oct 31, 20271.875 0.950381.782
Apr 30, 20281.875 0.929931.744
Oct 31, 20281.875 0.909461.705
Apr 30, 20291.875 0.889861.668
Oct 31, 20291.875 0.870291.632
Apr 30, 20301.875 0.851451.596
Oct 31, 20301.875 0.832541.561
Apr 30, 20311.875 0.814171.527
Oct 31, 20311.875 0.795381.491
Apr 30, 20321.875 0.776621.456
Oct 31, 2032101.875 0.7578177.202
Sum of present values 97.041

Present values sum to the dirty price; subtract 0.917 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +11.58% 107.259
-100 bp (-1.0%) +5.62% 101.525
+100 bp (+1.0%) -5.27% 91.056
+200 bp (+2.0%) -10.2% 86.322

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (5.4 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 →
3.554.154.75Jan 2026Jul 2026

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