Treasury note

91282CKC4 · 4.25% due February 28, 2031

Original term
7-Year
Maturity
Feb 28, 2031
Coupon
4.250%
Pays
Semi-Annual
Dated
Feb 29, 2024
First coupon
Aug 31, 2024
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$41.17bn
Held stripped
$8.0m
Share stripped
0.02%

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
4.593%
Modified duration
4.020 yr
DV01
0.0397
Convexity
18.992
Dirty price
98.742

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 6 of twelve buckets, summing to 4.108 years against a modified duration of 4.020.

Against the fitted curve

Priced 0.3 bp rich to the curve on that day, 1.16 cents per 100 of face.

That is -0.77 standard deviations from its own typical residual.

Yield to maturity, 634 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%Feb 29, 2024Sep 9, 2026Feb 29, 2024Yield to maturity4.276%Mar 5, 2024Yield to maturity4.146%Mar 8, 2024Yield to maturity4.078%Mar 13, 2024Yield to maturity4.198%Mar 18, 2024Yield to maturity4.355%Mar 21, 2024Yield to maturity4.281%Mar 26, 2024Yield to maturity4.234%Mar 29, 2024Yield to maturity4.213%Apr 3, 2024Yield to maturity4.355%Apr 8, 2024Yield to maturity4.430%Apr 11, 2024Yield to maturity4.602%Apr 16, 2024Yield to maturity4.684%Apr 19, 2024Yield to maturity4.641%Apr 24, 2024Yield to maturity4.658%Apr 29, 2024Yield to maturity4.642%May 2, 2024Yield to maturity4.572%May 7, 2024Yield to maturity4.464%May 10, 2024Yield to maturity4.508%May 15, 2024Yield to maturity4.351%May 20, 2024Yield to maturity4.448%May 23, 2024Yield to maturity4.498%May 29, 2024Yield to maturity4.635%Jun 3, 2024Yield to maturity4.417%Jun 6, 2024Yield to maturity4.281%Jun 11, 2024Yield to maturity4.401%Jun 14, 2024Yield to maturity4.211%Jun 20, 2024Yield to maturity4.249%Jun 25, 2024Yield to maturity4.238%Jun 28, 2024Yield to maturity4.342%Jul 3, 2024Yield to maturity4.331%Jul 9, 2024Yield to maturity4.255%Jul 12, 2024Yield to maturity4.124%Jul 17, 2024Yield to maturity4.092%Jul 22, 2024Yield to maturity4.200%Jul 25, 2024Yield to maturity4.189%Jul 30, 2024Yield to maturity4.064%Aug 2, 2024Yield to maturity3.672%Aug 7, 2024Yield to maturity3.853%Aug 12, 2024Yield to maturity3.799%Aug 15, 2024Yield to maturity3.830%Aug 20, 2024Yield to maturity3.738%Aug 23, 2024Yield to maturity3.706%Aug 28, 2024Yield to maturity3.732%Sep 3, 2024Yield to maturity3.725%Sep 6, 2024Yield to maturity3.590%Sep 11, 2024Yield to maturity3.525%Sep 16, 2024Yield to maturity3.492%Sep 19, 2024Yield to maturity3.587%Sep 24, 2024Yield to maturity3.575%Sep 27, 2024Yield to maturity3.595%Oct 2, 2024Yield to maturity3.632%Oct 7, 2024Yield to maturity3.926%Oct 10, 2024Yield to maturity3.976%Oct 16, 2024Yield to maturity3.908%Oct 21, 2024Yield to maturity4.058%Oct 24, 2024Yield to maturity4.102%Oct 29, 2024Yield to maturity4.175%Nov 1, 2024Yield to maturity4.289%Nov 6, 2024Yield to maturity4.352%Nov 12, 2024Yield to maturity4.381%Nov 15, 2024Yield to maturity4.358%Nov 20, 2024Yield to maturity4.335%Nov 25, 2024Yield to maturity4.209%Nov 29, 2024Yield to maturity4.112%Dec 4, 2024Yield to maturity4.123%Dec 9, 2024Yield to maturity4.123%Dec 12, 2024Yield to maturity4.237%Dec 17, 2024Yield to maturity4.313%Dec 20, 2024Yield to maturity4.430%Dec 26, 2024Yield to maturity4.489%Dec 31, 2024Yield to maturity4.460%Jan 6, 2025Yield to maturity4.496%Jan 9, 2025Yield to maturity4.544%Jan 14, 2025Yield to maturity4.670%Jan 17, 2025Yield to maturity4.492%Jan 23, 2025Yield to maturity4.522%Jan 28, 2025Yield to maturity4.409%Jan 31, 2025Yield to maturity4.445%Feb 5, 2025Yield to maturity4.309%Feb 10, 2025Yield to maturity4.398%Feb 13, 2025Yield to maturity4.440%Feb 19, 2025Yield to maturity4.429%Feb 24, 2025Yield to maturity4.292%Feb 27, 2025Yield to maturity4.161%Mar 4, 2025Yield to maturity4.078%Mar 7, 2025Yield to maturity4.166%Mar 12, 2025Yield to maturity4.160%Mar 17, 2025Yield to maturity4.172%Mar 20, 2025Yield to maturity4.076%Mar 25, 2025Yield to maturity4.142%Mar 28, 2025Yield to maturity4.064%Apr 2, 2025Yield to maturity4.022%Apr 7, 2025Yield to maturity3.902%Apr 10, 2025Yield to maturity4.147%Apr 15, 2025Yield to maturity4.080%Apr 18, 2025Yield to maturity4.050%Apr 23, 2025Yield to maturity4.116%Apr 28, 2025Yield to maturity3.917%May 1, 2025Yield to maturity3.916%May 6, 2025Yield to maturity3.994%May 9, 2025Yield to maturity4.078%May 14, 2025Yield to maturity4.249%May 19, 2025Yield to maturity4.151%May 22, 2025Yield to maturity4.206%May 28, 2025Yield to maturity4.157%Jun 2, 2025Yield to maturity4.107%Jun 5, 2025Yield to maturity4.082%Jun 10, 2025Yield to maturity4.162%Jun 13, 2025Yield to maturity4.094%Jun 18, 2025Yield to maturity4.057%Jun 24, 2025Yield to maturity3.933%Jun 27, 2025Yield to maturity3.914%Jul 2, 2025Yield to maturity3.945%Jul 8, 2025Yield to maturity4.062%Jul 11, 2025Yield to maturity4.061%Jul 16, 2025Yield to maturity4.061%Jul 21, 2025Yield to maturity3.986%Jul 24, 2025Yield to maturity4.048%Jul 29, 2025Yield to maturity3.966%Aug 1, 2025Yield to maturity3.829%Aug 6, 2025Yield to maturity3.828%Aug 11, 2025Yield to maturity3.884%Aug 14, 2025Yield to maturity3.877%Aug 19, 2025Yield to maturity3.882%Aug 22, 2025Yield to maturity3.819%Aug 27, 2025Yield to maturity3.775%Sep 2, 2025Yield to maturity3.811%Sep 5, 2025Yield to maturity3.647%Sep 10, 2025Yield to maturity3.640%Sep 15, 2025Yield to maturity3.657%Sep 18, 2025Yield to maturity3.719%Sep 23, 2025Yield to maturity3.731%Sep 26, 2025Yield to maturity3.824%Oct 1, 2025Yield to maturity3.729%Oct 6, 2025Yield to maturity3.797%Oct 9, 2025Yield to maturity3.777%Oct 15, 2025Yield to maturity3.668%Oct 20, 2025Yield to maturity3.622%Oct 23, 2025Yield to maturity3.646%Oct 28, 2025Yield to maturity3.645%Oct 31, 2025Yield to maturity3.746%Nov 5, 2025Yield to maturity3.797%Nov 10, 2025Yield to maturity3.744%Nov 14, 2025Yield to maturity3.769%Nov 19, 2025Yield to maturity3.736%Nov 24, 2025Yield to maturity3.637%Nov 28, 2025Yield to maturity3.629%Dec 3, 2025Yield to maturity3.654%Dec 8, 2025Yield to maturity3.784%Dec 11, 2025Yield to maturity3.743%Dec 16, 2025Yield to maturity3.723%Dec 19, 2025Yield to maturity3.721%Dec 24, 2025Yield to maturity3.753%Dec 30, 2025Yield to maturity3.706%Jan 5, 2026Yield to maturity3.731%Jan 8, 2026Yield to maturity3.757%Jan 13, 2026Yield to maturity3.762%Jan 16, 2026Yield to maturity3.841%Jan 22, 2026Yield to maturity3.868%Jan 27, 2026Yield to maturity3.840%Jan 30, 2026Yield to maturity3.812%Feb 4, 2026Yield to maturity3.852%Feb 9, 2026Yield to maturity3.763%Feb 12, 2026Yield to maturity3.688%Feb 18, 2026Yield to maturity3.666%Feb 23, 2026Yield to maturity3.597%Feb 26, 2026Yield to maturity3.596%Mar 3, 2026Yield to maturity3.649%Mar 6, 2026Yield to maturity3.743%Mar 11, 2026Yield to maturity3.804%Mar 16, 2026Yield to maturity3.824%Mar 19, 2026Yield to maturity3.899%Mar 24, 2026Yield to maturity4.052%Mar 27, 2026Yield to maturity4.079%Apr 1, 2026Yield to maturity3.974%Apr 6, 2026Yield to maturity3.994%Apr 9, 2026Yield to maturity3.923%Apr 14, 2026Yield to maturity3.880%Apr 17, 2026Yield to maturity3.851%Apr 22, 2026Yield to maturity3.921%Apr 27, 2026Yield to maturity3.955%Apr 30, 2026Yield to maturity4.026%May 5, 2026Yield to maturity4.076%May 8, 2026Yield to maturity4.018%May 13, 2026Yield to maturity4.118%May 18, 2026Yield to maturity4.263%May 21, 2026Yield to maturity4.249%May 27, 2026Yield to maturity4.183%Jun 1, 2026Yield to maturity4.183%Jun 4, 2026Yield to maturity4.183%Jun 9, 2026Yield to maturity4.263%Jun 12, 2026Yield to maturity4.212%Jun 17, 2026Yield to maturity4.271%Jun 23, 2026Yield to maturity4.271%Jun 26, 2026Yield to maturity4.130%Jul 1, 2026Yield to maturity4.241%Jul 7, 2026Yield to maturity4.271%Jul 10, 2026Yield to maturity4.302%Jul 15, 2026Yield to maturity4.249%Jul 20, 2026Yield to maturity4.317%Jul 23, 2026Yield to maturity4.454%Jul 28, 2026Yield to maturity4.355%Jul 31, 2026Yield to maturity4.440%Aug 5, 2026Yield to maturity4.325%Aug 10, 2026Yield to maturity4.402%Aug 13, 2026Yield to maturity4.303%Aug 18, 2026Yield to maturity4.357%Aug 21, 2026Yield to maturity4.412%Aug 26, 2026Yield to maturity4.365%Aug 31, 2026Yield to maturity4.490%Sep 3, 2026Yield to maturity4.498%Sep 9, 2026Yield to maturity4.593%

Price history

634 trading days to Sep 9, 2026

9698100102104106Feb 29, 2024Sep 9, 2026Feb 29, 2024Close99.844Mar 5, 2024Close100.625Mar 8, 2024Close101.031Mar 13, 2024Close100.313Mar 18, 2024Close99.375Mar 21, 2024Close99.813Mar 26, 2024Close100.094Mar 29, 2024Close100.219Apr 3, 2024Close99.375Apr 8, 2024Close98.938Apr 11, 2024Close97.938Apr 16, 2024Close97.469Apr 19, 2024Close97.719Apr 24, 2024Close97.625Apr 29, 2024Close97.719May 2, 2024Close98.125May 7, 2024Close98.750May 10, 2024Close98.500May 15, 2024Close99.406May 20, 2024Close98.844May 23, 2024Close98.563May 29, 2024Close97.781Jun 3, 2024Close99.031Jun 6, 2024Close99.813Jun 11, 2024Close99.125Jun 14, 2024Close100.219Jun 20, 2024Close100.000Jun 25, 2024Close100.063Jun 28, 2024Close99.469Jul 3, 2024Close99.531Jul 9, 2024Close99.969Jul 12, 2024Close100.719Jul 17, 2024Close100.906Jul 22, 2024Close100.281Jul 25, 2024Close100.344Jul 30, 2024Close101.063Aug 2, 2024Close103.344Aug 7, 2024Close102.281Aug 12, 2024Close102.594Aug 15, 2024Close102.406Aug 20, 2024Close102.938Aug 23, 2024Close103.125Aug 28, 2024Close102.969Sep 3, 2024Close103.000Sep 6, 2024Close103.781Sep 11, 2024Close104.156Sep 16, 2024Close104.344Sep 19, 2024Close103.781Sep 24, 2024Close103.844Sep 27, 2024Close103.719Oct 2, 2024Close103.500Oct 7, 2024Close101.813Oct 10, 2024Close101.531Oct 16, 2024Close101.906Oct 21, 2024Close101.063Oct 24, 2024Close100.813Oct 29, 2024Close100.406Nov 1, 2024Close99.781Nov 6, 2024Close99.438Nov 12, 2024Close99.281Nov 15, 2024Close99.406Nov 20, 2024Close99.531Nov 25, 2024Close100.219Nov 29, 2024Close100.750Dec 4, 2024Close100.688Dec 9, 2024Close100.688Dec 12, 2024Close100.063Dec 17, 2024Close99.656Dec 20, 2024Close99.031Dec 26, 2024Close98.719Dec 31, 2024Close98.875Jan 6, 2025Close98.688Jan 9, 2025Close98.438Jan 14, 2025Close97.781Jan 17, 2025Close98.719Jan 23, 2025Close98.563Jan 28, 2025Close99.156Jan 31, 2025Close98.969Feb 5, 2025Close99.688Feb 10, 2025Close99.219Feb 13, 2025Close99.000Feb 19, 2025Close99.063Feb 24, 2025Close99.781Feb 27, 2025Close100.469Mar 4, 2025Close100.906Mar 7, 2025Close100.438Mar 12, 2025Close100.469Mar 17, 2025Close100.406Mar 20, 2025Close100.906Mar 25, 2025Close100.563Mar 28, 2025Close100.969Apr 2, 2025Close101.188Apr 7, 2025Close101.813Apr 10, 2025Close100.531Apr 15, 2025Close100.875Apr 18, 2025Close101.031Apr 23, 2025Close100.688Apr 28, 2025Close101.719May 1, 2025Close101.719May 6, 2025Close101.313May 9, 2025Close100.875May 14, 2025Close100.000May 19, 2025Close100.500May 22, 2025Close100.219May 28, 2025Close100.469Jun 2, 2025Close100.719Jun 5, 2025Close100.844Jun 10, 2025Close100.438Jun 13, 2025Close100.781Jun 18, 2025Close100.969Jun 24, 2025Close101.594Jun 27, 2025Close101.688Jul 2, 2025Close101.531Jul 8, 2025Close100.938Jul 11, 2025Close100.938Jul 16, 2025Close100.938Jul 21, 2025Close101.313Jul 24, 2025Close101.000Jul 29, 2025Close101.406Aug 1, 2025Close102.094Aug 6, 2025Close102.094Aug 11, 2025Close101.813Aug 14, 2025Close101.844Aug 19, 2025Close101.813Aug 22, 2025Close102.125Aug 27, 2025Close102.344Sep 2, 2025Close102.156Sep 5, 2025Close102.969Sep 10, 2025Close103.000Sep 15, 2025Close102.906Sep 18, 2025Close102.594Sep 23, 2025Close102.531Sep 26, 2025Close102.063Oct 1, 2025Close102.531Oct 6, 2025Close102.188Oct 9, 2025Close102.281Oct 15, 2025Close102.813Oct 20, 2025Close103.031Oct 23, 2025Close102.906Oct 28, 2025Close102.906Oct 31, 2025Close102.406Nov 5, 2025Close102.156Nov 10, 2025Close102.406Nov 14, 2025Close102.281Nov 19, 2025Close102.438Nov 24, 2025Close102.906Nov 28, 2025Close102.938Dec 3, 2025Close102.813Dec 8, 2025Close102.188Dec 11, 2025Close102.375Dec 16, 2025Close102.469Dec 19, 2025Close102.469Dec 24, 2025Close102.313Dec 30, 2025Close102.531Jan 5, 2026Close102.406Jan 8, 2026Close102.281Jan 13, 2026Close102.250Jan 16, 2026Close101.875Jan 22, 2026Close101.750Jan 27, 2026Close101.875Jan 30, 2026Close102.000Feb 4, 2026Close101.813Feb 9, 2026Close102.219Feb 12, 2026Close102.563Feb 18, 2026Close102.656Feb 23, 2026Close102.969Feb 26, 2026Close102.969Mar 3, 2026Close102.719Mar 6, 2026Close102.281Mar 11, 2026Close102.000Mar 16, 2026Close101.906Mar 19, 2026Close101.563Mar 24, 2026Close100.875Mar 27, 2026Close100.750Apr 1, 2026Close101.219Apr 6, 2026Close101.125Apr 9, 2026Close101.438Apr 14, 2026Close101.625Apr 17, 2026Close101.750Apr 22, 2026Close101.438Apr 27, 2026Close101.281Apr 30, 2026Close100.969May 5, 2026Close100.750May 8, 2026Close101.000May 13, 2026Close100.563May 18, 2026Close99.938May 21, 2026Close100.000May 27, 2026Close100.281Jun 1, 2026Close100.281Jun 4, 2026Close100.281Jun 9, 2026Close99.938Jun 12, 2026Close100.156Jun 17, 2026Close99.906Jun 23, 2026Close99.906Jun 26, 2026Close100.500Jul 1, 2026Close100.031Jul 7, 2026Close99.906Jul 10, 2026Close99.781Jul 15, 2026Close100.000Jul 20, 2026Close99.719Jul 23, 2026Close99.156Jul 28, 2026Close99.563Jul 31, 2026Close99.219Aug 5, 2026Close99.688Aug 10, 2026Close99.375Aug 13, 2026Close99.781Aug 18, 2026Close99.563Aug 21, 2026Close99.344Aug 26, 2026Close99.531Aug 31, 2026Close99.031Sep 3, 2026Close99.000Sep 9, 2026Close98.625
The most recent 20 trading days of prices for 91282CKC4.
DateBidOfferClose
Sep 9, 202698.62598.59498.625
Sep 8, 202698.82898.81398.781
Sep 4, 202698.92298.90698.844
Sep 3, 202699.07899.06399.000
Sep 2, 202698.82898.81398.844
Sep 1, 202698.95398.93898.813
Aug 31, 202699.07899.06399.031
Aug 28, 202699.21999.18899.094
Aug 27, 202699.57899.56399.469
Aug 26, 202699.57899.56399.531
Aug 25, 202699.64199.62599.656
Aug 24, 202699.48499.46999.406
Aug 21, 202699.32899.31399.344
Aug 20, 202699.51699.50099.531
Aug 19, 202699.60999.59499.656
Aug 18, 202699.57899.56399.563
Aug 17, 202699.60999.59499.563
Aug 14, 202699.70399.68899.594
Aug 13, 202699.78199.75099.781
Aug 12, 202699.60999.59499.531

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 91282CKC4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 27, 2024Feb 29, 2024New issue$42.0bn$43.8bn2.58x4.327%

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.