Note Public

U.S. Treasury 3.50% Note due Feb 28, 2031

CUSIP 91282CQD6 · 5-Year · coupon paid semiannually

AAA·Govt

Yield to maturity i

4.36%

annualized · YTW equals YTM (non-callable)

Current yield i

3.63%

Coupon i

3.50%

Modified duration i

4.1 yr

Convexity i

19.97

Indicative price i

96.456

indicative model price — not a tradable quote

real auctioned at 99.478 · 3.62% high yield (Feb 25, 2026) — at issuance, not a current price

Settles i

Jul 29, 2026

priced to this date (T+1 basis)

Total to settle i

97.916

per 100 par (clean 96.456 + accrued 1.460) · ≈ $9,791.59 per $10,000 face

Next coupon i

Aug 28, 2026

1.750 per 100 · $175.00 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	5-Year
Coupon i	3.50% (semiannual)
Maturity i	Feb 28, 2031
Issue date	Mar 2, 2026
Par value i	100.00
Callable	No
Amount outstanding i	—
Credit	AAA·Govt

Look up on TreasuryDirect

Computed metrics computed

Clean price i

96.456

Dirty price i

97.916

Accrued interest i

1.460

per 100 par

Yield to maturity i

4.36%

Yield to worst i

4.36%

Current yield i

3.63%

Modified duration i

4.1 yr

Macaulay duration i

4.2 yr

Convexity i

19.97

DV01 i

0.0403

per 100 par

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

Remaining cash flows

10 payments, discounted off today's curve

Date	Cash flow	Discount factor	Present value
Aug 28, 2026	1.750	0.99697	1.745
Feb 28, 2027	1.750	0.97715	1.710
Aug 28, 2027	1.750	0.95748	1.676
Feb 28, 2028	1.750	0.93694	1.640
Aug 28, 2028	1.750	0.91641	1.604
Feb 28, 2029	1.750	0.89646	1.569
Aug 28, 2029	1.750	0.87701	1.535
Feb 28, 2030	1.750	0.85777	1.501
Aug 28, 2030	1.750	0.83909	1.468
Feb 28, 2031	101.750	0.82034	83.469
Sum of present values			97.916

Present values sum to the dirty price; subtract 1.460 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%)	+8.63%	104.778
-100 bp (-1.0%)	+4.21%	100.521
+100 bp (+1.0%)	-4.01%	92.584
+200 bp (+2.0%)	-7.83%	88.904

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (4.1 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 →

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