Bond Field Guide 固定收益,清晰视角。
Note Public

U.S. Treasury 3.50% Note due Feb 15, 2033

CUSIP 91282CGM7 · 9-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.98%
annualized · YTW equals YTM (non-callable)
Current yield i
3.80%
Coupon i
3.50%
Modified duration i
5.5 yr
Convexity i
35.59
Indicative price i
92.033
indicative model price, not a tradable quote
real auctioned at 100.366 · 3.46% high yield (Apr 12, 2023) · reopening · at issuance, not a current price
Settles i
Oct 15, 2026
priced to this date (T+1 basis)
Total to settle i
92.613
per 100 par (clean 92.033 + accrued 0.580) · ≈ $9,261.34 per $10,000 face
Next coupon i
Feb 15, 2027
1.750 per 100 · $175.00 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Apr 2023par 100 · Feb 203313 coupons remaining + principal

Terms fetched

Type Note Coupon-paying, 2 to 10 years. Interest every six months.
Term i9-Year 10-Month
Coupon i3.50% (semiannual)
Maturity iFeb 15, 2033
Issue dateApr 17, 2023
Par value i100.00
CallableNo
Amount outstanding i$80.7B
Credit AAA·Govt

Computed metrics computed

Clean price i
92.033
Dirty price i
92.613
Accrued interest i
0.580
per 100 par
Yield to maturity i
4.98%
Yield to worst i
4.98%
Current yield i
3.80%
Modified duration i
5.5 yr
Macaulay duration i
5.7 yr
Convexity i
35.59
DV01 i
0.0512
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
Feb 15, 20271.750 0.985601.725
Aug 15, 20271.750 0.964051.687
Feb 15, 20281.750 0.941161.647
Aug 15, 20281.750 0.917751.606
Feb 15, 20291.750 0.894841.566
Aug 15, 20291.750 0.873031.528
Feb 15, 20301.750 0.851551.490
Aug 15, 20301.750 0.831011.454
Feb 15, 20311.750 0.810501.418
Aug 15, 20311.750 0.790701.384
Feb 15, 20321.750 0.770701.349
Aug 15, 20321.750 0.751121.314
Feb 15, 2033101.750 0.7316574.445
Sum of present values 92.613

Present values sum to the dirty price; subtract 0.580 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +11.78% 102.871
-100 bp (-1.0%) +5.71% 97.289
+100 bp (+1.0%) -5.35% 87.105
+200 bp (+2.0%) -10.35% 82.505

Illustrative only: a parallel shift of the whole curve, estimated from modified duration (5.5 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 →
3.434.465.48Jan 2026Oct 2026

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