OBLIGACIONES TF 4,9% LG40 EUR
ES00000120N0
SECRETARÍA GENERAL DEL TESORO Y FINANCIACIÓN INTERNACIONALForeign governmentHi-MTF · MOT
- Last price
- 106.90
- as of 16/10/2026
- Gross yield
- 4.23%
- Net yield
- 3.64%
- Maturity
- 30/07/2040
- 13y 9m
Simulation for information and education only, computed automatically from the values entered. It is not financial advice, nor a recommendation or solicitation to buy or sell. Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.
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- Settlement amount
- €9,707.69
- Net gain at maturity
- €4,694.49
- Net yield
- 3.64%
- Gross yield
- 4.22%
Order details
- Settlement date
- 20/10/2026
- Purchase price (clean)
- 106.90
- Nominal value
- 9,000
- Clean value
- €9,621.00
- Gross accrued interest
- €99.07
- Tax credit on accrued interest
- -€12.38
- Commissions
- €0.00
- Settlement amount
- €9,707.69
Yields and duration
| Gross | Net | Net without capital gain tax | |
|---|---|---|---|
| Annual yield | 4.22% | 3.64% | 3.64% |
| Modified duration | 9.95 | 10.11 | 10.11 |
The last column applies when the capital gain is offset by earlier capital losses.
Outcome at maturity
- Gross coupons
- €6,174.00
- Tax on coupons
- -€771.82
- Redemption of the nominal
- €9,000.00
- Capital loss
- -€621.00
- Capital gain tax
- -€0.00
- Net gain at maturity
- €4,694.49
No tax: in Italy the capital loss can offset capital gains of the next four years.
Cash flows
| Date | Description | Amount |
|---|---|---|
| 20/10/2026 | Payment of the price | -€9,621.00 |
| 20/10/2026 | Gross accrued interest | -€99.07 |
| 20/10/2026 | Tax credit on accrued interest | €12.38 |
| 30/07/2027 | Gross coupon | €441.00 |
| 30/07/2027 | Tax on the coupon | -€55.13 |
| 30/07/2028 | Gross coupon | €441.00 |
| 30/07/2028 | Tax on the coupon | -€55.13 |
| 30/07/2029 | Gross coupon | €441.00 |
| 30/07/2029 | Tax on the coupon | -€55.13 |
| 30/07/2030 | Gross coupon | €441.00 |
| 30/07/2030 | Tax on the coupon | -€55.13 |
| 30/07/2031 | Gross coupon | €441.00 |
| 30/07/2031 | Tax on the coupon | -€55.13 |
| 30/07/2032 | Gross coupon | €441.00 |
| 30/07/2032 | Tax on the coupon | -€55.13 |
| 30/07/2033 | Gross coupon | €441.00 |
| 30/07/2033 | Tax on the coupon | -€55.13 |
| 30/07/2034 | Gross coupon | €441.00 |
| 30/07/2034 | Tax on the coupon | -€55.13 |
| 30/07/2035 | Gross coupon | €441.00 |
| 30/07/2035 | Tax on the coupon | -€55.13 |
| 30/07/2036 | Gross coupon | €441.00 |
| 30/07/2036 | Tax on the coupon | -€55.13 |
| 30/07/2037 | Gross coupon | €441.00 |
| 30/07/2037 | Tax on the coupon | -€55.13 |
| 30/07/2038 | Gross coupon | €441.00 |
| 30/07/2038 | Tax on the coupon | -€55.13 |
| 30/07/2039 | Gross coupon | €441.00 |
| 30/07/2039 | Tax on the coupon | -€55.13 |
| 30/07/2040 | Gross coupon | €441.00 |
| 30/07/2040 | Tax on the coupon | -€55.13 |
| 30/07/2040 | Redemption of the nominal | €9,000.00 |
| Net gain at maturity | €4,694.49 | |
It is the sum of all the movements: €15,186.38 received (coupons, redemption, tax credit on accrued interest) minus €10,491.89 paid (price, accrued interest, commissions and taxes) = €4,694.49. It is what you earn in euro, after tax, if you hold the bond to maturity; if negative, you lose money.
How it is calculated
- Accrued interest uses the ACT/ACT ICMA convention: the buyer pays the gross accrued interest and receives the credit for the tax withheld on that part of the coupon.
- Taxes of the Italian administered regime, 12.5% on coupons and capital gain (12.5% for government and supranational bonds, 26% for the others). Commissions are part of the purchase cost. Stamp duty and issue discount are not considered.
- Yields are annual compound rates (IRR) of the cash flows, actual days/365, with the bond held to maturity and coupons not reinvested.