Treasury note

91282CLN9 · 3.5% due September 30, 2029

Original term
5-Year
Maturity
Sep 30, 2029
Coupon
3.500%
Pays
Semi-Annual
Dated
Sep 30, 2024
First coupon
Mar 31, 2025
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$71.32bn
Held stripped
$93.2m
Share stripped
0.13%

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
4.518%
Modified duration
2.812 yr
DV01
0.0278
Convexity
9.627
Dirty price
98.684

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 2.875 years against a modified duration of 2.812.

Against the fitted curve

Priced 2.2 bp rich to the curve on that day, 6.15 cents per 100 of face.

That is -1.56 standard deviations from its own typical residual.

Yield to maturity, 486 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%Sep 30, 2024Sep 9, 2026Sep 30, 2024Yield to maturity3.583%Oct 3, 2024Yield to maturity3.624%Oct 8, 2024Yield to maturity3.862%Oct 11, 2024Yield to maturity3.884%Oct 17, 2024Yield to maturity3.899%Oct 22, 2024Yield to maturity3.999%Oct 25, 2024Yield to maturity4.065%Oct 30, 2024Yield to maturity4.145%Nov 4, 2024Yield to maturity4.168%Nov 7, 2024Yield to maturity4.176%Nov 13, 2024Yield to maturity4.303%Nov 18, 2024Yield to maturity4.290%Nov 21, 2024Yield to maturity4.306%Nov 26, 2024Yield to maturity4.198%Dec 2, 2024Yield to maturity4.097%Dec 5, 2024Yield to maturity4.091%Dec 10, 2024Yield to maturity4.107%Dec 13, 2024Yield to maturity4.264%Dec 18, 2024Yield to maturity4.407%Dec 23, 2024Yield to maturity4.447%Dec 27, 2024Yield to maturity4.457%Jan 2, 2025Yield to maturity4.376%Jan 7, 2025Yield to maturity4.462%Jan 10, 2025Yield to maturity4.594%Jan 15, 2025Yield to maturity4.458%Jan 21, 2025Yield to maturity4.401%Jan 24, 2025Yield to maturity4.434%Jan 29, 2025Yield to maturity4.359%Feb 3, 2025Yield to maturity4.353%Feb 6, 2025Yield to maturity4.278%Feb 11, 2025Yield to maturity4.373%Feb 14, 2025Yield to maturity4.337%Feb 20, 2025Yield to maturity4.346%Feb 25, 2025Yield to maturity4.133%Feb 28, 2025Yield to maturity4.035%Mar 5, 2025Yield to maturity4.074%Mar 10, 2025Yield to maturity3.976%Mar 13, 2025Yield to maturity4.023%Mar 18, 2025Yield to maturity4.071%Mar 21, 2025Yield to maturity3.996%Mar 26, 2025Yield to maturity4.082%Mar 31, 2025Yield to maturity3.951%Apr 3, 2025Yield to maturity3.736%Apr 8, 2025Yield to maturity3.860%Apr 11, 2025Yield to maturity4.135%Apr 16, 2025Yield to maturity3.877%Apr 21, 2025Yield to maturity3.925%Apr 24, 2025Yield to maturity3.902%Apr 29, 2025Yield to maturity3.739%May 2, 2025Yield to maturity3.897%May 7, 2025Yield to maturity3.842%May 12, 2025Yield to maturity4.081%May 15, 2025Yield to maturity4.050%May 20, 2025Yield to maturity4.043%May 23, 2025Yield to maturity4.061%May 29, 2025Yield to maturity3.990%Jun 3, 2025Yield to maturity4.008%Jun 6, 2025Yield to maturity4.106%Jun 11, 2025Yield to maturity3.994%Jun 16, 2025Yield to maturity4.011%Jun 20, 2025Yield to maturity3.932%Jun 25, 2025Yield to maturity3.811%Jun 30, 2025Yield to maturity3.756%Jul 3, 2025Yield to maturity3.903%Jul 9, 2025Yield to maturity3.879%Jul 14, 2025Yield to maturity3.946%Jul 17, 2025Yield to maturity3.963%Jul 22, 2025Yield to maturity3.841%Jul 25, 2025Yield to maturity3.917%Jul 30, 2025Yield to maturity3.934%Aug 4, 2025Yield to maturity3.712%Aug 7, 2025Yield to maturity3.754%Aug 12, 2025Yield to maturity3.788%Aug 15, 2025Yield to maturity3.805%Aug 20, 2025Yield to maturity3.764%Aug 25, 2025Yield to maturity3.748%Aug 28, 2025Yield to maturity3.657%Sep 3, 2025Yield to maturity3.641%Sep 8, 2025Yield to maturity3.525%Sep 11, 2025Yield to maturity3.550%Sep 16, 2025Yield to maturity3.550%Sep 19, 2025Yield to maturity3.635%Sep 24, 2025Yield to maturity3.669%Sep 29, 2025Yield to maturity3.695%Oct 2, 2025Yield to maturity3.627%Oct 7, 2025Yield to maturity3.662%Oct 10, 2025Yield to maturity3.594%Oct 16, 2025Yield to maturity3.491%Oct 21, 2025Yield to maturity3.508%Oct 24, 2025Yield to maturity3.551%Oct 29, 2025Yield to maturity3.655%Nov 3, 2025Yield to maturity3.664%Nov 6, 2025Yield to maturity3.638%Nov 12, 2025Yield to maturity3.621%Nov 17, 2025Yield to maturity3.665%Nov 20, 2025Yield to maturity3.613%Nov 25, 2025Yield to maturity3.517%Dec 1, 2025Yield to maturity3.605%Dec 4, 2025Yield to maturity3.614%Dec 9, 2025Yield to maturity3.712%Dec 12, 2025Yield to maturity3.668%Dec 17, 2025Yield to maturity3.615%Dec 22, 2025Yield to maturity3.624%Dec 26, 2025Yield to maturity3.607%Dec 31, 2025Yield to maturity3.625%Jan 6, 2026Yield to maturity3.616%Jan 9, 2026Yield to maturity3.662%Jan 14, 2026Yield to maturity3.626%Jan 20, 2026Yield to maturity3.755%Jan 23, 2026Yield to maturity3.738%Jan 28, 2026Yield to maturity3.729%Feb 2, 2026Yield to maturity3.720%Feb 5, 2026Yield to maturity3.628%Feb 10, 2026Yield to maturity3.592%Feb 13, 2026Yield to maturity3.508%Feb 19, 2026Yield to maturity3.555%Feb 24, 2026Yield to maturity3.518%Feb 27, 2026Yield to maturity3.434%Mar 4, 2026Yield to maturity3.593%Mar 9, 2026Yield to maturity3.632%Mar 12, 2026Yield to maturity3.813%Mar 17, 2026Yield to maturity3.718%Mar 20, 2026Yield to maturity3.960%Mar 25, 2026Yield to maturity3.923%Mar 30, 2026Yield to maturity3.895%Apr 2, 2026Yield to maturity3.867%Apr 7, 2026Yield to maturity3.887%Apr 10, 2026Yield to maturity3.859%Apr 15, 2026Yield to maturity3.821%Apr 20, 2026Yield to maturity3.773%Apr 23, 2026Yield to maturity3.882%Apr 28, 2026Yield to maturity3.903%May 1, 2026Yield to maturity3.944%May 6, 2026Yield to maturity3.925%May 11, 2026Yield to maturity4.007%May 14, 2026Yield to maturity4.069%May 19, 2026Yield to maturity4.244%May 22, 2026Yield to maturity4.196%May 28, 2026Yield to maturity4.105%Jun 2, 2026Yield to maturity4.128%Jun 5, 2026Yield to maturity4.244%Jun 10, 2026Yield to maturity4.215%Jun 15, 2026Yield to maturity4.124%Jun 18, 2026Yield to maturity4.211%Jun 24, 2026Yield to maturity4.160%Jun 29, 2026Yield to maturity4.121%Jul 2, 2026Yield to maturity4.176%Jul 8, 2026Yield to maturity4.252%Jul 13, 2026Yield to maturity4.308%Jul 16, 2026Yield to maturity4.214%Jul 21, 2026Yield to maturity4.314%Jul 24, 2026Yield to maturity4.382%Jul 29, 2026Yield to maturity4.308%Aug 3, 2026Yield to maturity4.333%Aug 6, 2026Yield to maturity4.325%Aug 11, 2026Yield to maturity4.306%Aug 14, 2026Yield to maturity4.266%Aug 19, 2026Yield to maturity4.268%Aug 24, 2026Yield to maturity4.326%Aug 27, 2026Yield to maturity4.317%Sep 1, 2026Yield to maturity4.477%Sep 4, 2026Yield to maturity4.471%Sep 9, 2026Yield to maturity4.518%

Price history

486 trading days to Sep 9, 2026

9596979899100101Sep 30, 2024Sep 9, 2026Sep 30, 2024Close99.625Oct 3, 2024Close99.438Oct 8, 2024Close98.375Oct 11, 2024Close98.281Oct 17, 2024Close98.219Oct 22, 2024Close97.781Oct 25, 2024Close97.500Oct 30, 2024Close97.156Nov 4, 2024Close97.063Nov 7, 2024Close97.031Nov 13, 2024Close96.500Nov 18, 2024Close96.563Nov 21, 2024Close96.500Nov 26, 2024Close96.969Dec 2, 2024Close97.406Dec 5, 2024Close97.438Dec 10, 2024Close97.375Dec 13, 2024Close96.719Dec 18, 2024Close96.125Dec 23, 2024Close95.969Dec 27, 2024Close95.938Jan 2, 2025Close96.281Jan 7, 2025Close95.938Jan 10, 2025Close95.406Jan 15, 2025Close95.969Jan 21, 2025Close96.219Jan 24, 2025Close96.094Jan 29, 2025Close96.406Feb 3, 2025Close96.438Feb 6, 2025Close96.750Feb 11, 2025Close96.375Feb 14, 2025Close96.531Feb 20, 2025Close96.500Feb 25, 2025Close97.375Feb 28, 2025Close97.781Mar 5, 2025Close97.625Mar 10, 2025Close98.031Mar 13, 2025Close97.844Mar 18, 2025Close97.656Mar 21, 2025Close97.969Mar 26, 2025Close97.625Mar 31, 2025Close98.156Apr 3, 2025Close99.031Apr 8, 2025Close98.531Apr 11, 2025Close97.438Apr 16, 2025Close98.469Apr 21, 2025Close98.281Apr 24, 2025Close98.375Apr 29, 2025Close99.031May 2, 2025Close98.406May 7, 2025Close98.625May 12, 2025Close97.688May 15, 2025Close97.813May 20, 2025Close97.844May 23, 2025Close97.781May 29, 2025Close98.063Jun 3, 2025Close98.000Jun 6, 2025Close97.625Jun 11, 2025Close98.063Jun 16, 2025Close98.000Jun 20, 2025Close98.313Jun 25, 2025Close98.781Jun 30, 2025Close99.000Jul 3, 2025Close98.438Jul 9, 2025Close98.531Jul 14, 2025Close98.281Jul 17, 2025Close98.219Jul 22, 2025Close98.688Jul 25, 2025Close98.406Jul 30, 2025Close98.344Aug 4, 2025Close99.188Aug 7, 2025Close99.031Aug 12, 2025Close98.906Aug 15, 2025Close98.844Aug 20, 2025Close99.000Aug 25, 2025Close99.063Aug 28, 2025Close99.406Sep 3, 2025Close99.469Sep 8, 2025Close99.906Sep 11, 2025Close99.813Sep 16, 2025Close99.813Sep 19, 2025Close99.500Sep 24, 2025Close99.375Sep 29, 2025Close99.281Oct 2, 2025Close99.531Oct 7, 2025Close99.406Oct 10, 2025Close99.656Oct 16, 2025Close100.031Oct 21, 2025Close99.969Oct 24, 2025Close99.813Oct 29, 2025Close99.438Nov 3, 2025Close99.406Nov 6, 2025Close99.500Nov 12, 2025Close99.563Nov 17, 2025Close99.406Nov 20, 2025Close99.594Nov 25, 2025Close99.938Dec 1, 2025Close99.625Dec 4, 2025Close99.594Dec 9, 2025Close99.250Dec 12, 2025Close99.406Dec 17, 2025Close99.594Dec 22, 2025Close99.563Dec 26, 2025Close99.625Dec 31, 2025Close99.563Jan 6, 2026Close99.594Jan 9, 2026Close99.438Jan 14, 2026Close99.563Jan 20, 2026Close99.125Jan 23, 2026Close99.188Jan 28, 2026Close99.219Feb 2, 2026Close99.250Feb 5, 2026Close99.563Feb 10, 2026Close99.688Feb 13, 2026Close99.969Feb 19, 2026Close99.813Feb 24, 2026Close99.938Feb 27, 2026Close100.219Mar 4, 2026Close99.688Mar 9, 2026Close99.563Mar 12, 2026Close98.969Mar 17, 2026Close99.281Mar 20, 2026Close98.500Mar 25, 2026Close98.625Mar 30, 2026Close98.719Apr 2, 2026Close98.813Apr 7, 2026Close98.750Apr 10, 2026Close98.844Apr 15, 2026Close98.969Apr 20, 2026Close99.125Apr 23, 2026Close98.781Apr 28, 2026Close98.719May 1, 2026Close98.594May 6, 2026Close98.656May 11, 2026Close98.406May 14, 2026Close98.219May 19, 2026Close97.688May 22, 2026Close97.844May 28, 2026Close98.125Jun 2, 2026Close98.063Jun 5, 2026Close97.719Jun 10, 2026Close97.813Jun 15, 2026Close98.094Jun 18, 2026Close97.844Jun 24, 2026Close98.000Jun 29, 2026Close98.125Jul 2, 2026Close97.969Jul 8, 2026Close97.750Jul 13, 2026Close97.594Jul 16, 2026Close97.875Jul 21, 2026Close97.594Jul 24, 2026Close97.406Jul 29, 2026Close97.625Aug 3, 2026Close97.563Aug 6, 2026Close97.594Aug 11, 2026Close97.656Aug 14, 2026Close97.781Aug 19, 2026Close97.781Aug 24, 2026Close97.625Aug 27, 2026Close97.656Sep 1, 2026Close97.219Sep 4, 2026Close97.250Sep 9, 2026Close97.125
The most recent 20 trading days of prices for 91282CLN9.
DateBidOfferClose
Sep 9, 202697.14197.12597.125
Sep 8, 202697.25097.25097.219
Sep 4, 202697.29797.28197.250
Sep 3, 202697.42297.40697.344
Sep 2, 202697.25097.25097.250
Sep 1, 202697.31397.31397.219
Aug 31, 202697.39197.37597.375
Aug 28, 202697.45397.43897.375
Aug 27, 202697.73497.71997.656
Aug 26, 202697.73497.71997.719
Aug 25, 202697.79797.78197.781
Aug 24, 202697.70397.68897.625
Aug 21, 202697.60997.59497.625
Aug 20, 202697.73497.71997.750
Aug 19, 202697.76697.75097.781
Aug 18, 202697.78197.78197.750
Aug 17, 202697.79797.78197.750
Aug 14, 202697.85997.84497.781
Aug 13, 202697.89197.87597.875
Aug 12, 202697.76697.75097.719

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 91282CLN9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Sep 25, 2024Sep 30, 2024New issue$70.0bn$71.4bn2.38x3.519%

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.