Treasury note

91282CAH4 · 0.5% due August 31, 2027

Original term
7-Year
Maturity
Aug 31, 2027
Coupon
0.500%
Pays
Semi-Annual
Dated
Aug 31, 2020
First coupon
Feb 28, 2021
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$50.81bn
Held stripped
$6.4m
Share stripped
0.01%

Stripped par is held as separate interest and principal components rather than as whole securities. The Safe Rate indices deliberately do not deduct it, and the whole-market figure is published so that decision can be argued with. Market statistics.

Amount outstanding as reported by Treasury, in its Monthly Statement of the Public Debt. The Safe Rate indices weight on a different figure, float-adjusted original par, and the two are not comparable security by security. The index figures are published per holding.

Risk, September 9, 2026

Yield to maturity
4.211%
Modified duration
0.951 yr
DV01
0.0092
Convexity
1.371
Dirty price
96.514

Where its rate sensitivity sits

3M
6M
1Y
2Y
3Y
5Y
7Y
10Y
15Y
20Y
25Y
30Y
Sensitivity to a one basis point move at each point on the curve, in years. Concentrated in 2 of twelve buckets, summing to 0.971 years against a modified duration of 0.951.

Against the fitted curve

Priced 2.0 bp rich to the curve on that day, 1.82 cents per 100 of face.

That is -0.97 standard deviations from its own typical residual.

Yield to maturity, 1,508 observations

0%1%2%3%4%5%6%Aug 31, 2020Sep 9, 2026Aug 31, 2020Yield to maturity0.495%Sep 10, 2020Yield to maturity0.459%Sep 21, 2020Yield to maturity0.459%Sep 30, 2020Yield to maturity0.459%Oct 9, 2020Yield to maturity0.542%Oct 21, 2020Yield to maturity0.570%Oct 30, 2020Yield to maturity0.626%Nov 10, 2020Yield to maturity0.703%Nov 20, 2020Yield to maturity0.594%Dec 2, 2020Yield to maturity0.666%Dec 11, 2020Yield to maturity0.590%Dec 22, 2020Yield to maturity0.600%Jan 4, 2021Yield to maturity0.591%Jan 13, 2021Yield to maturity0.742%Jan 25, 2021Yield to maturity0.670%Feb 3, 2021Yield to maturity0.739%Feb 12, 2021Yield to maturity0.775%Feb 24, 2021Yield to maturity0.937%Mar 5, 2021Yield to maturity1.147%Mar 16, 2021Yield to maturity1.191%Mar 25, 2021Yield to maturity1.183%Apr 5, 2021Yield to maturity1.302%Apr 14, 2021Yield to maturity1.210%Apr 23, 2021Yield to maturity1.156%May 4, 2021Yield to maturity1.153%May 13, 2021Yield to maturity1.176%May 24, 2021Yield to maturity1.132%Jun 3, 2021Yield to maturity1.151%Jun 14, 2021Yield to maturity1.063%Jun 23, 2021Yield to maturity1.124%Jul 2, 2021Yield to maturity1.074%Jul 14, 2021Yield to maturity0.990%Jul 23, 2021Yield to maturity0.912%Aug 3, 2021Yield to maturity0.812%Aug 12, 2021Yield to maturity1.002%Aug 23, 2021Yield to maturity0.923%Sep 1, 2021Yield to maturity0.941%Sep 13, 2021Yield to maturity0.960%Sep 22, 2021Yield to maturity0.994%Oct 1, 2021Yield to maturity1.103%Oct 13, 2021Yield to maturity1.241%Oct 22, 2021Yield to maturity1.359%Nov 2, 2021Yield to maturity1.288%Nov 12, 2021Yield to maturity1.356%Nov 23, 2021Yield to maturity1.441%Dec 3, 2021Yield to maturity1.202%Dec 14, 2021Yield to maturity1.304%Dec 23, 2021Yield to maturity1.326%Jan 4, 2022Yield to maturity1.454%Jan 13, 2022Yield to maturity1.542%Jan 25, 2022Yield to maturity1.639%Feb 3, 2022Yield to maturity1.718%Feb 14, 2022Yield to maturity1.954%Feb 24, 2022Yield to maturity1.886%Mar 7, 2022Yield to maturity1.749%Mar 16, 2022Yield to maturity2.212%Mar 25, 2022Yield to maturity2.587%Apr 5, 2022Yield to maturity2.717%Apr 14, 2022Yield to maturity2.841%Apr 26, 2022Yield to maturity2.814%May 5, 2022Yield to maturity3.058%May 16, 2022Yield to maturity2.865%May 25, 2022Yield to maturity2.753%Jun 6, 2022Yield to maturity3.079%Jun 15, 2022Yield to maturity3.418%Jun 27, 2022Yield to maturity3.293%Jul 7, 2022Yield to maturity3.086%Jul 18, 2022Yield to maturity3.101%Jul 27, 2022Yield to maturity2.870%Aug 5, 2022Yield to maturity2.992%Aug 16, 2022Yield to maturity2.982%Aug 25, 2022Yield to maturity3.198%Sep 6, 2022Yield to maturity3.460%Sep 15, 2022Yield to maturity3.686%Sep 26, 2022Yield to maturity4.177%Oct 5, 2022Yield to maturity3.992%Oct 17, 2022Yield to maturity4.269%Oct 26, 2022Yield to maturity4.232%Nov 4, 2022Yield to maturity4.368%Nov 16, 2022Yield to maturity3.871%Nov 28, 2022Yield to maturity3.966%Dec 7, 2022Yield to maturity3.697%Dec 16, 2022Yield to maturity3.678%Dec 28, 2022Yield to maturity4.027%Jan 9, 2023Yield to maturity3.712%Jan 19, 2023Yield to maturity3.530%Jan 30, 2023Yield to maturity3.728%Feb 8, 2023Yield to maturity3.868%Feb 17, 2023Yield to maturity4.093%Mar 1, 2023Yield to maturity4.349%Mar 10, 2023Yield to maturity4.052%Mar 21, 2023Yield to maturity3.852%Mar 30, 2023Yield to maturity3.761%Apr 10, 2023Yield to maturity3.599%Apr 19, 2023Yield to maturity3.810%Apr 28, 2023Yield to maturity3.603%May 9, 2023Yield to maturity3.578%May 18, 2023Yield to maturity3.785%May 30, 2023Yield to maturity3.949%Jun 8, 2023Yield to maturity3.996%Jun 20, 2023Yield to maturity4.094%Jun 29, 2023Yield to maturity4.277%Jul 11, 2023Yield to maturity4.370%Jul 20, 2023Yield to maturity4.220%Jul 31, 2023Yield to maturity4.320%Aug 9, 2023Yield to maturity4.251%Aug 18, 2023Yield to maturity4.493%Aug 29, 2023Yield to maturity4.414%Sep 8, 2023Yield to maturity4.542%Sep 19, 2023Yield to maturity4.663%Sep 28, 2023Yield to maturity4.737%Oct 10, 2023Yield to maturity4.695%Oct 19, 2023Yield to maturity5.008%Oct 30, 2023Yield to maturity4.854%Nov 8, 2023Yield to maturity4.605%Nov 17, 2023Yield to maturity4.548%Nov 29, 2023Yield to maturity4.329%Dec 8, 2023Yield to maturity4.360%Dec 19, 2023Yield to maturity4.067%Dec 29, 2023Yield to maturity3.952%Jan 10, 2024Yield to maturity4.066%Jan 22, 2024Yield to maturity4.089%Jan 31, 2024Yield to maturity3.991%Feb 9, 2024Yield to maturity4.237%Feb 21, 2024Yield to maturity4.402%Mar 1, 2024Yield to maturity4.278%Mar 12, 2024Yield to maturity4.304%Mar 21, 2024Yield to maturity4.385%Apr 1, 2024Yield to maturity4.483%Apr 10, 2024Yield to maturity4.763%Apr 19, 2024Yield to maturity4.790%Apr 30, 2024Yield to maturity4.855%May 9, 2024Yield to maturity4.597%May 20, 2024Yield to maturity4.600%May 30, 2024Yield to maturity4.725%Jun 10, 2024Yield to maturity4.639%Jun 20, 2024Yield to maturity4.445%Jul 1, 2024Yield to maturity4.587%Jul 11, 2024Yield to maturity4.263%Jul 22, 2024Yield to maturity4.288%Jul 31, 2024Yield to maturity4.096%Aug 9, 2024Yield to maturity3.886%Aug 20, 2024Yield to maturity3.808%Aug 29, 2024Yield to maturity3.753%Sep 10, 2024Yield to maturity3.470%Sep 19, 2024Yield to maturity3.507%Sep 30, 2024Yield to maturity3.598%Oct 9, 2024Yield to maturity3.941%Oct 21, 2024Yield to maturity3.969%Oct 30, 2024Yield to maturity4.150%Nov 8, 2024Yield to maturity4.231%Nov 20, 2024Yield to maturity4.290%Dec 2, 2024Yield to maturity4.142%Dec 11, 2024Yield to maturity4.149%Dec 20, 2024Yield to maturity4.336%Jan 2, 2025Yield to maturity4.286%Jan 13, 2025Yield to maturity4.466%Jan 23, 2025Yield to maturity4.330%Feb 3, 2025Yield to maturity4.279%Feb 12, 2025Yield to maturity4.386%Feb 24, 2025Yield to maturity4.185%Mar 5, 2025Yield to maturity4.024%Mar 14, 2025Yield to maturity4.024%Mar 25, 2025Yield to maturity4.002%Apr 3, 2025Yield to maturity3.720%Apr 14, 2025Yield to maturity3.878%Apr 23, 2025Yield to maturity3.883%May 2, 2025Yield to maturity3.823%May 13, 2025Yield to maturity4.024%May 22, 2025Yield to maturity4.001%Jun 3, 2025Yield to maturity3.959%Jun 12, 2025Yield to maturity3.904%Jun 24, 2025Yield to maturity3.798%Jul 3, 2025Yield to maturity3.896%Jul 15, 2025Yield to maturity3.951%Jul 24, 2025Yield to maturity3.910%Aug 4, 2025Yield to maturity3.678%Aug 13, 2025Yield to maturity3.666%Aug 22, 2025Yield to maturity3.680%Sep 3, 2025Yield to maturity3.621%Sep 12, 2025Yield to maturity3.548%Sep 23, 2025Yield to maturity3.587%Oct 2, 2025Yield to maturity3.557%Oct 14, 2025Yield to maturity3.485%Oct 23, 2025Yield to maturity3.507%Nov 3, 2025Yield to maturity3.613%Nov 13, 2025Yield to maturity3.604%Nov 24, 2025Yield to maturity3.524%Dec 4, 2025Yield to maturity3.553%Dec 15, 2025Yield to maturity3.529%Dec 24, 2025Yield to maturity3.539%Jan 6, 2026Yield to maturity3.499%Jan 15, 2026Yield to maturity3.566%Jan 27, 2026Yield to maturity3.567%Feb 5, 2026Yield to maturity3.487%Feb 17, 2026Yield to maturity3.465%Feb 26, 2026Yield to maturity3.492%Mar 9, 2026Yield to maturity3.598%Mar 18, 2026Yield to maturity3.789%Mar 27, 2026Yield to maturity3.977%Apr 7, 2026Yield to maturity3.846%Apr 16, 2026Yield to maturity3.784%Apr 27, 2026Yield to maturity3.808%May 6, 2026Yield to maturity3.844%May 15, 2026Yield to maturity4.000%May 27, 2026Yield to maturity3.970%Jun 5, 2026Yield to maturity4.082%Jun 16, 2026Yield to maturity3.989%Jun 26, 2026Yield to maturity4.087%Jul 8, 2026Yield to maturity4.173%Jul 17, 2026Yield to maturity4.123%Jul 28, 2026Yield to maturity4.205%Aug 6, 2026Yield to maturity4.166%Aug 17, 2026Yield to maturity4.080%Aug 26, 2026Yield to maturity4.102%Sep 4, 2026Yield to maturity4.224%Sep 9, 2026Yield to maturity4.211%

Price history

1,508 trading days to Sep 9, 2026

80859095100105Aug 31, 2020Sep 9, 2026Aug 31, 2020Close100.031Sep 10, 2020Close100.281Sep 21, 2020Close100.281Sep 30, 2020Close100.281Oct 9, 2020Close99.719Oct 21, 2020Close99.531Oct 30, 2020Close99.156Nov 10, 2020Close98.656Nov 20, 2020Close99.375Dec 2, 2020Close98.906Dec 11, 2020Close99.406Dec 22, 2020Close99.344Jan 4, 2021Close99.406Jan 13, 2021Close98.438Jan 25, 2021Close98.906Feb 3, 2021Close98.469Feb 12, 2021Close98.250Feb 24, 2021Close97.250Mar 5, 2021Close95.969Mar 16, 2021Close95.719Mar 25, 2021Close95.781Apr 5, 2021Close95.094Apr 14, 2021Close95.656Apr 23, 2021Close96.000May 4, 2021Close96.031May 13, 2021Close95.906May 24, 2021Close96.188Jun 3, 2021Close96.094Jun 14, 2021Close96.625Jun 23, 2021Close96.281Jul 2, 2021Close96.594Jul 14, 2021Close97.094Jul 23, 2021Close97.563Aug 3, 2021Close98.156Aug 12, 2021Close97.063Aug 23, 2021Close97.531Sep 1, 2021Close97.438Sep 13, 2021Close97.344Sep 22, 2021Close97.156Oct 1, 2021Close96.563Oct 13, 2021Close95.813Oct 22, 2021Close95.188Nov 2, 2021Close95.594Nov 12, 2021Close95.250Nov 23, 2021Close94.813Dec 3, 2021Close96.125Dec 14, 2021Close95.594Dec 23, 2021Close95.500Jan 4, 2022Close94.844Jan 13, 2022Close94.406Jan 25, 2022Close93.938Feb 3, 2022Close93.563Feb 14, 2022Close92.406Feb 24, 2022Close92.781Mar 7, 2022Close93.500Mar 16, 2022Close91.250Mar 25, 2022Close89.500Apr 5, 2022Close88.938Apr 14, 2022Close88.406Apr 26, 2022Close88.594May 5, 2022Close87.531May 16, 2022Close88.469May 25, 2022Close89.031Jun 6, 2022Close87.625Jun 15, 2022Close86.188Jun 27, 2022Close86.813Jul 7, 2022Close87.781Jul 18, 2022Close87.781Jul 27, 2022Close88.844Aug 5, 2022Close88.375Aug 16, 2022Close88.469Aug 25, 2022Close87.594Sep 6, 2022Close86.563Sep 15, 2022Close85.688Sep 26, 2022Close83.781Oct 5, 2022Close84.594Oct 17, 2022Close83.594Oct 26, 2022Close83.813Nov 4, 2022Close83.375Nov 16, 2022Close85.406Nov 28, 2022Close85.125Dec 7, 2022Close86.250Dec 16, 2022Close86.406Dec 28, 2022Close85.125Jan 9, 2023Close86.438Jan 19, 2023Close87.219Jan 30, 2023Close86.531Feb 8, 2023Close86.063Feb 17, 2023Close85.313Mar 1, 2023Close84.438Mar 10, 2023Close85.625Mar 21, 2023Close86.438Mar 30, 2023Close86.844Apr 10, 2023Close87.531Apr 19, 2023Close86.813Apr 28, 2023Close87.656May 9, 2023Close87.813May 18, 2023Close87.125May 30, 2023Close86.625Jun 8, 2023Close86.531Jun 20, 2023Close86.281Jun 29, 2023Close85.719Jul 11, 2023Close85.500Jul 20, 2023Close86.094Jul 31, 2023Close85.844Aug 9, 2023Close86.156Aug 18, 2023Close85.438Aug 29, 2023Close85.781Sep 8, 2023Close85.469Sep 19, 2023Close85.156Sep 28, 2023Close85.000Oct 10, 2023Close85.250Oct 19, 2023Close84.344Oct 30, 2023Close84.938Nov 8, 2023Close85.813Nov 17, 2023Close86.094Nov 29, 2023Close86.875Dec 8, 2023Close86.875Dec 19, 2023Close87.875Dec 29, 2023Close88.344Jan 10, 2024Close88.063Jan 22, 2024Close88.094Jan 31, 2024Close88.469Feb 9, 2024Close87.813Feb 21, 2024Close87.406Mar 1, 2024Close87.875Mar 12, 2024Close87.875Mar 21, 2024Close87.719Apr 1, 2024Close87.531Apr 10, 2024Close86.813Apr 19, 2024Close86.844Apr 30, 2024Close86.750May 9, 2024Close87.563May 20, 2024Close87.656May 30, 2024Close87.406Jun 10, 2024Close87.750Jun 20, 2024Close88.375Jul 1, 2024Close88.094Jul 11, 2024Close89.063Jul 22, 2024Close89.094Jul 31, 2024Close89.688Aug 9, 2024Close90.344Aug 20, 2024Close90.625Aug 29, 2024Close90.844Sep 10, 2024Close91.688Sep 19, 2024Close91.656Sep 30, 2024Close91.500Oct 9, 2024Close90.688Oct 21, 2024Close90.719Oct 30, 2024Close90.344Nov 8, 2024Close90.250Nov 20, 2024Close90.188Dec 2, 2024Close90.656Dec 11, 2024Close90.719Dec 20, 2024Close90.375Jan 2, 2025Close90.594Jan 13, 2025Close90.281Jan 23, 2025Close90.688Feb 3, 2025Close90.906Feb 12, 2025Close90.750Feb 24, 2025Close91.313Mar 5, 2025Close91.750Mar 14, 2025Close91.844Mar 25, 2025Close91.969Apr 3, 2025Close92.656Apr 14, 2025Close92.406Apr 23, 2025Close92.469May 2, 2025Close92.688May 13, 2025Close92.344May 22, 2025Close92.469Jun 3, 2025Close92.656Jun 12, 2025Close92.844Jun 24, 2025Close93.156Jul 3, 2025Close93.063Jul 15, 2025Close93.031Jul 24, 2025Close93.188Aug 4, 2025Close93.719Aug 13, 2025Close93.813Aug 22, 2025Close93.875Sep 3, 2025Close94.063Sep 12, 2025Close94.281Sep 23, 2025Close94.281Oct 2, 2025Close94.406Oct 14, 2025Close94.625Oct 23, 2025Close94.656Nov 3, 2025Close94.563Nov 13, 2025Close94.656Nov 24, 2025Close94.875Dec 4, 2025Close94.906Dec 15, 2025Close95.031Dec 24, 2025Close95.094Jan 6, 2026Close95.250Jan 15, 2026Close95.219Jan 27, 2026Close95.313Feb 5, 2026Close95.500Feb 17, 2026Close95.625Feb 26, 2026Close95.656Mar 9, 2026Close95.594Mar 18, 2026Close95.406Mar 27, 2026Close95.250Apr 7, 2026Close95.500Apr 16, 2026Close95.656Apr 27, 2026Close95.719May 6, 2026Close95.750May 15, 2026Close95.656May 27, 2026Close95.781Jun 5, 2026Close95.750Jun 16, 2026Close95.938Jun 26, 2026Close95.938Jul 8, 2026Close95.938Jul 17, 2026Close96.094Jul 28, 2026Close96.094Aug 6, 2026Close96.219Aug 17, 2026Close96.406Aug 26, 2026Close96.469Sep 4, 2026Close96.469Sep 9, 2026Close96.500
The most recent 20 trading days of prices for 91282CAH4.
DateBidOfferClose
Sep 9, 202696.51696.50096.500
Sep 8, 202696.50096.50096.500
Sep 4, 202696.48496.46996.469
Sep 3, 202696.48496.46996.469
Sep 2, 202696.42296.40696.406
Sep 1, 202696.42296.40696.375
Aug 31, 202696.42296.40696.406
Aug 28, 202696.42296.40696.375
Aug 27, 202696.48496.46996.469
Aug 26, 202696.48496.46996.469
Aug 25, 202696.46996.46996.469
Aug 24, 202696.45396.43896.406
Aug 21, 202696.45396.43896.438
Aug 20, 202696.45396.43896.438
Aug 19, 202696.42296.40696.406
Aug 18, 202696.42296.40696.406
Aug 17, 202696.42296.40696.406
Aug 14, 202696.43896.43896.406
Aug 13, 202696.39196.37596.375
Aug 12, 202696.35996.34496.344

Prices are per 100 of face, from Treasury's own end-of-day file. A dash in the bid or offer column means none was posted that day.

Auction

A CUSIP can be auctioned more than once: Treasury reopens an existing security rather than issuing a new one, so the same bond is sold again at whatever yield the market then wants.

Auction history for 91282CAH4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 27, 2020Aug 31, 2020New issue$47.0bn$51.1bn2.47x0.519%

The curve this was priced against →

Index levels before September 30, 2026 are back-tested. They were computed after the fact by applying the rules to historical data, which benefits from hindsight in the choice of rules, and an index cannot be invested in directly. Methodology v1.0 takes effect at that rebalance, when levels begin to be struck on the day; the rulebook is identical either way, and the version is published on every row.

A fitted curve is a fit, not a quote. Daily error averages 3.8 basis points across the history and reaches about 20 on the worst days, in December 2008, when the market was genuinely hard to fit one smooth curve to. Every curve page publishes its own fit error rather than burying it.

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Safe Rate™, Safe Rate Indices™ and the Safe Rate US Treasury Index™ are trademarks of Safe Rate, claimed through use in commerce and not registered. Third-party marks are the property of their owners, which are not affiliated with and do not endorse this data.

Curves are fitted from public Treasury data and carry fit error; figures are not a record of trading, and an index cannot be invested in directly. No claim of compliance with the IOSCO Principles for Financial Benchmarks is made or implied. Not investment advice, not an offer, and not a recommendation to buy or sell any security.