U.S. Treasury 3.12% Bond due Aug 15, 2044
CUSIP 912810RH3 · 29-Year 10-Month · coupon paid semiannually
Cash-flow timeline
issue → maturity · each tick is a coupon · ◆ todayTerms fetched
| Type | Bond Coupon-paying, 20 or 30 years. Interest every six months. |
| Term i | 29-Year 10-Month |
| Coupon i | 3.12% (semiannual) |
| Maturity i | Aug 15, 2044 |
| Issue date | Oct 15, 2014 |
| Par value i | 100.00 |
| Callable | No |
| Amount outstanding i | $29.0B |
| Credit | AAA·Govt |
Computed metrics computed
indicative, matrix-priced off today's par curve.
Remaining cash flows
36 payments, discounted off today's curve| Date | Cash flow | Discount factor | Present value |
|---|---|---|---|
| Feb 15, 2027 | 1.562 | 0.98560 | 1.540 |
| Aug 15, 2027 | 1.562 | 0.96405 | 1.506 |
| Feb 15, 2028 | 1.562 | 0.94116 | 1.471 |
| Aug 15, 2028 | 1.562 | 0.91775 | 1.434 |
| Feb 15, 2029 | 1.562 | 0.89484 | 1.398 |
| Aug 15, 2029 | 1.562 | 0.87303 | 1.364 |
| Feb 15, 2030 | 1.562 | 0.85155 | 1.331 |
| Aug 15, 2030 | 1.562 | 0.83101 | 1.298 |
| Feb 15, 2031 | 1.562 | 0.81050 | 1.266 |
| Aug 15, 2031 | 1.562 | 0.79070 | 1.235 |
| Feb 15, 2032 | 1.562 | 0.77070 | 1.204 |
| Aug 15, 2032 | 1.562 | 0.75112 | 1.174 |
| Feb 15, 2033 | 1.562 | 0.73165 | 1.143 |
| Aug 15, 2033 | 1.562 | 0.71279 | 1.114 |
| Feb 15, 2034 | 1.562 | 0.69418 | 1.085 |
| Aug 15, 2034 | 1.562 | 0.67631 | 1.057 |
| Feb 15, 2035 | 1.562 | 0.65848 | 1.029 |
| Aug 15, 2035 | 1.562 | 0.64127 | 1.002 |
| Feb 15, 2036 | 1.562 | 0.62410 | 0.975 |
| Aug 15, 2036 | 1.562 | 0.60744 | 0.949 |
| Feb 15, 2037 | 1.562 | 0.59079 | 0.923 |
| Aug 15, 2037 | 1.562 | 0.57466 | 0.898 |
| Feb 15, 2038 | 1.562 | 0.55857 | 0.873 |
| Aug 15, 2038 | 1.562 | 0.54303 | 0.848 |
| Feb 15, 2039 | 1.562 | 0.52754 | 0.824 |
| Aug 15, 2039 | 1.562 | 0.51258 | 0.801 |
| Feb 15, 2040 | 1.562 | 0.49767 | 0.778 |
| Aug 15, 2040 | 1.562 | 0.48321 | 0.755 |
| Feb 15, 2041 | 1.562 | 0.46888 | 0.733 |
| Aug 15, 2041 | 1.562 | 0.45506 | 0.711 |
| Feb 15, 2042 | 1.562 | 0.44128 | 0.690 |
| Aug 15, 2042 | 1.562 | 0.42800 | 0.669 |
| Feb 15, 2043 | 1.562 | 0.41477 | 0.648 |
| Aug 15, 2043 | 1.562 | 0.40202 | 0.628 |
| Feb 15, 2044 | 1.562 | 0.38933 | 0.608 |
| Aug 15, 2044 | 101.562 | 0.37703 | 38.292 |
| Sum of present values | 74.254 |
Present values sum to the dirty price; subtract 0.518 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%) | +29.16% | 95.235 |
| -100 bp (-1.0%) | +13.58% | 83.746 |
| +100 bp (+1.0%) | -11.57% | 65.204 |
| +200 bp (+2.0%) | -21.14% | 58.151 |
Illustrative only: a parallel shift of the whole curve, estimated from modified duration (12.6 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.