Note Public

U.S. Treasury 4.62% Note due Feb 15, 2035

CUSIP 91282CMM0 · 9-Year 10-Month · coupon paid semiannually

AAA·Govt

Yield to maturity i

5.05%

annualized · YTW equals YTM (non-callable)

Current yield i

4.76%

Coupon i

4.62%

Modified duration i

6.8 yr

Convexity i

54.73

Indicative price i

97.122

indicative model price, not a tradable quote

real auctioned at 101.490 · 4.43% high yield (Apr 9, 2025) · reopening · at issuance, not a current price

Settles i

Oct 15, 2026

priced to this date (T+1 basis)

Total to settle i

97.889

per 100 par (clean 97.122 + accrued 0.767) · ≈ $9,788.89 per $10,000 face

Next coupon i

Feb 15, 2027

2.312 per 100 · $231.25 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	9-Year 10-Month
Coupon i	4.62% (semiannual)
Maturity i	Feb 15, 2035
Issue date	Apr 15, 2025
Par value i	100.00
Callable	No
Amount outstanding i	$93.2B
Credit	AAA·Govt

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Computed metrics computed

Clean price i

97.122

Dirty price i

97.889

Accrued interest i

0.767

per 100 par

Yield to maturity i

5.05%

Yield to worst i

5.05%

Current yield i

4.76%

Modified duration i

6.8 yr

Macaulay duration i

6.9 yr

Convexity i

54.73

DV01 i

0.0662

per 100 par

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

Remaining cash flows

17 payments, discounted off today's curve

Date	Cash flow	Discount factor	Present value
Feb 15, 2027	2.312	0.98560	2.279
Aug 15, 2027	2.312	0.96405	2.229
Feb 15, 2028	2.312	0.94116	2.176
Aug 15, 2028	2.312	0.91775	2.122
Feb 15, 2029	2.312	0.89484	2.069
Aug 15, 2029	2.312	0.87303	2.019
Feb 15, 2030	2.312	0.85155	1.969
Aug 15, 2030	2.312	0.83101	1.922
Feb 15, 2031	2.312	0.81050	1.874
Aug 15, 2031	2.312	0.79070	1.828
Feb 15, 2032	2.312	0.77070	1.782
Aug 15, 2032	2.312	0.75112	1.737
Feb 15, 2033	2.312	0.73165	1.692
Aug 15, 2033	2.312	0.71279	1.648
Feb 15, 2034	2.312	0.69418	1.605
Aug 15, 2034	2.312	0.67631	1.564
Feb 15, 2035	102.312	0.65848	67.371
Sum of present values			97.889

Present values sum to the dirty price; subtract 0.767 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%)	+14.62%	111.321
-100 bp (-1.0%)	+7.04%	103.956
+100 bp (+1.0%)	-6.49%	90.820
+200 bp (+2.0%)	-12.43%	85.050

Illustrative only: a parallel shift of the whole curve, estimated from modified duration (6.8 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.