OBLIGACIONES TF 5,15% OT28 EUR
ES00000124C5
SECRETARÍA GENERAL DEL TESORO Y FINANCIACIÓN INTERNACIONALForeign governmentHi-MTF · MOT
- Last price
- 103.69
- as of 15/10/2026
- Gross yield
- 3.24%
- Net yield
- 2.62%
- Maturity
- 31/10/2028
- 2y
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 Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.
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Change the values: every figure updates at once. The page link keeps the simulation.
- Settlement amount
- €9,725.44
- Net gain at maturity
- €491.24
- Net yield
- 2.61%
- Gross yield
- 3.24%
Order details
- Settlement date
- 20/10/2026
- Purchase price (clean)
- 103.69
- Nominal value
- 9,000
- Clean value
- €9,332.10
- Gross accrued interest
- €449.53
- Tax credit on accrued interest
- -€56.19
- Commissions
- €0.00
- Settlement amount
- €9,725.44
Yields and duration
| Gross | Net | Net without capital gain tax | |
|---|---|---|---|
| Annual yield | 3.24% | 2.61% | 2.61% |
| Modified duration | 1.83 | 1.85 | 1.85 |
The last column applies when the capital gain is offset by earlier capital losses.
Outcome at maturity
- Gross coupons
- €1,390.50
- Tax on coupons
- -€173.82
- Redemption of the nominal
- €9,000.00
- Capital loss
- -€332.10
- Capital gain tax
- -€0.00
- Net gain at maturity
- €491.24
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 | -€9,332.10 |
| 20/10/2026 | Gross accrued interest | -€449.53 |
| 20/10/2026 | Tax credit on accrued interest | €56.19 |
| 31/10/2026 | Gross coupon | €463.50 |
| 31/10/2026 | Tax on the coupon | -€57.94 |
| 31/10/2027 | Gross coupon | €463.50 |
| 31/10/2027 | Tax on the coupon | -€57.94 |
| 31/10/2028 | Gross coupon | €463.50 |
| 31/10/2028 | Tax on the coupon | -€57.94 |
| 31/10/2028 | Redemption of the nominal | €9,000.00 |
| Net gain at maturity | €491.24 | |
It is the sum of all the movements: €10,446.69 received (coupons, redemption, tax credit on accrued interest) minus €9,955.45 paid (price, accrued interest, commissions and taxes) = €491.24. 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.