OBLIGACIONES TF 5,15% OT44 EUR

ES00000124H4SpainSECRETARÍA GENERAL DEL TESORO Y FINANCIACIÓN INTERNACIONALForeign governmentHi-MTF · MOT

Last price
109.68
as of 16/10/2026
Gross yield
4.36%
Net yield
3.76%
Maturity
31/10/2044
18y
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 Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.

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EUR

Last price: 109.68 on 16/10/2026

Commissions
%
€
€

Percent of the order value, with a minimum and a maximum in euro (empty maximum = no limit). For a flat fee enter only the minimum.

Settlement amount
€9,124.03
Net gain at maturity
€5,725.47
Net yield
3.75%
Gross yield
4.36%

Order details

Settlement date
20/10/2026
Purchase price (clean)
109.68
Nominal value
8,000
Clean value
€8,774.40
Gross accrued interest
€399.58
Tax credit on accrued interest
-€49.95
Commissions
€0.00
Settlement amount
€9,124.03

Yields and duration

GrossNetNet without capital gain tax
Annual yield4.36%3.75%3.75%
Modified duration11.4211.7211.72

The last column applies when the capital gain is offset by earlier capital losses.

Outcome at maturity

Gross coupons
€7,828.00
Tax on coupons
-€978.50
Redemption of the nominal
€8,000.00
Capital loss
-€774.40
Capital gain tax
-€0.00
Net gain at maturity
€5,725.47

No tax: in Italy the capital loss can offset capital gains of the next four years.

Cash flows

DateDescriptionAmount
20/10/2026Payment of the price-€8,774.40
20/10/2026Gross accrued interest-€399.58
20/10/2026Tax credit on accrued interest€49.95
31/10/2026Gross coupon€412.00
31/10/2026Tax on the coupon-€51.50
31/10/2027Gross coupon€412.00
31/10/2027Tax on the coupon-€51.50
31/10/2028Gross coupon€412.00
31/10/2028Tax on the coupon-€51.50
31/10/2029Gross coupon€412.00
31/10/2029Tax on the coupon-€51.50
31/10/2030Gross coupon€412.00
31/10/2030Tax on the coupon-€51.50
31/10/2031Gross coupon€412.00
31/10/2031Tax on the coupon-€51.50
31/10/2032Gross coupon€412.00
31/10/2032Tax on the coupon-€51.50
31/10/2033Gross coupon€412.00
31/10/2033Tax on the coupon-€51.50
31/10/2034Gross coupon€412.00
31/10/2034Tax on the coupon-€51.50
31/10/2035Gross coupon€412.00
31/10/2035Tax on the coupon-€51.50
31/10/2036Gross coupon€412.00
31/10/2036Tax on the coupon-€51.50
31/10/2037Gross coupon€412.00
31/10/2037Tax on the coupon-€51.50
31/10/2038Gross coupon€412.00
31/10/2038Tax on the coupon-€51.50
31/10/2039Gross coupon€412.00
31/10/2039Tax on the coupon-€51.50
31/10/2040Gross coupon€412.00
31/10/2040Tax on the coupon-€51.50
31/10/2041Gross coupon€412.00
31/10/2041Tax on the coupon-€51.50
31/10/2042Gross coupon€412.00
31/10/2042Tax on the coupon-€51.50
31/10/2043Gross coupon€412.00
31/10/2043Tax on the coupon-€51.50
31/10/2044Gross coupon€412.00
31/10/2044Tax on the coupon-€51.50
31/10/2044Redemption of the nominal€8,000.00
Net gain at maturity€5,725.47

It is the sum of all the movements: €15,877.95 received (coupons, redemption, tax credit on accrued interest) minus €10,152.48 paid (price, accrued interest, commissions and taxes) = €5,725.47. 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.