OBLIGACIONES TF 0,7% AP32 EUR
ES0000012K20
SECRETARÍA GENERAL DEL TESORO Y FINANCIACIÓN INTERNACIONALForeign governmentMOT
- Last price
- 85.66
- as of 14/10/2026
- Gross yield
- 3.60%
- Net yield
- 3.18%
- Maturity
- 30/04/2032
- 5y 6m
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 Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.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
- €9,454.34
- Net gain at maturity
- €1,752.70
- Net yield
- 3.18%
- Gross yield
- 3.60%
Order details
- Settlement date
- 19/10/2026
- Purchase price (clean)
- 85.66
- Nominal value
- 11,000
- Clean value
- €9,422.60
- Gross accrued interest
- €36.28
- Tax credit on accrued interest
- -€4.54
- Commissions
- €0.00
- Settlement amount
- €9,454.34
Yields and duration
| Gross | Net | Net without capital gain tax | |
|---|---|---|---|
| Annual yield | 3.60% | 3.18% | 3.51% |
| Modified duration | 5.23 | 5.25 | 5.24 |
The last column applies when the capital gain is offset by earlier capital losses.
Outcome at maturity
- Gross coupons
- €462.00
- Tax on coupons
- -€57.78
- Redemption of the nominal
- €11,000.00
- Capital gain
- €1,577.40
- Capital gain tax
- -€197.18
- Net gain at maturity
- €1,752.70
Cash flows
| Date | Description | Amount |
|---|---|---|
| 19/10/2026 | Payment of the price | -€9,422.60 |
| 19/10/2026 | Gross accrued interest | -€36.28 |
| 19/10/2026 | Tax credit on accrued interest | €4.54 |
| 30/04/2027 | Gross coupon | €77.00 |
| 30/04/2027 | Tax on the coupon | -€9.63 |
| 30/04/2028 | Gross coupon | €77.00 |
| 30/04/2028 | Tax on the coupon | -€9.63 |
| 30/04/2029 | Gross coupon | €77.00 |
| 30/04/2029 | Tax on the coupon | -€9.63 |
| 30/04/2030 | Gross coupon | €77.00 |
| 30/04/2030 | Tax on the coupon | -€9.63 |
| 30/04/2031 | Gross coupon | €77.00 |
| 30/04/2031 | Tax on the coupon | -€9.63 |
| 30/04/2032 | Gross coupon | €77.00 |
| 30/04/2032 | Tax on the coupon | -€9.63 |
| 30/04/2032 | Redemption of the nominal | €11,000.00 |
| 30/04/2032 | Capital gain tax | -€197.18 |
| Net gain at maturity | €1,752.70 | |
It is the sum of all the movements: €11,466.54 received (coupons, redemption, tax credit on accrued interest) minus €9,713.84 paid (price, accrued interest, commissions and taxes) = €1,752.70. 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.