OBLIGACIONES TF 3,9% LG39 EUR
ES0000012L60
SECRETARÍA GENERAL DEL TESORO Y FINANCIACIÓN INTERNACIONALForeign governmentHi-MTF · MOT
- Last price
- 96.67
- as of 14/10/2026
- Gross yield
- 4.24%
- Net yield
- 3.72%
- Maturity
- 30/07/2039
- 12y 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 Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.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
- €9,742.73
- Net gain at maturity
- €4,651.89
- Net yield
- 3.71%
- Gross yield
- 4.24%
Order details
- Settlement date
- 19/10/2026
- Purchase price (clean)
- 96.67
- Nominal value
- 10,000
- Clean value
- €9,667.00
- Gross accrued interest
- €86.55
- Tax credit on accrued interest
- -€10.82
- Commissions
- €0.00
- Settlement amount
- €9,742.73
Yields and duration
| Gross | Net | Net without capital gain tax | |
|---|---|---|---|
| Annual yield | 4.24% | 3.71% | 3.74% |
| Modified duration | 9.76 | 9.88 | 9.88 |
The last column applies when the capital gain is offset by earlier capital losses.
Outcome at maturity
- Gross coupons
- €5,070.00
- Tax on coupons
- -€633.75
- Redemption of the nominal
- €10,000.00
- Capital gain
- €333.00
- Capital gain tax
- -€41.63
- Net gain at maturity
- €4,651.89
Cash flows
| Date | Description | Amount |
|---|---|---|
| 19/10/2026 | Payment of the price | -€9,667.00 |
| 19/10/2026 | Gross accrued interest | -€86.55 |
| 19/10/2026 | Tax credit on accrued interest | €10.82 |
| 30/07/2027 | Gross coupon | €390.00 |
| 30/07/2027 | Tax on the coupon | -€48.75 |
| 30/07/2028 | Gross coupon | €390.00 |
| 30/07/2028 | Tax on the coupon | -€48.75 |
| 30/07/2029 | Gross coupon | €390.00 |
| 30/07/2029 | Tax on the coupon | -€48.75 |
| 30/07/2030 | Gross coupon | €390.00 |
| 30/07/2030 | Tax on the coupon | -€48.75 |
| 30/07/2031 | Gross coupon | €390.00 |
| 30/07/2031 | Tax on the coupon | -€48.75 |
| 30/07/2032 | Gross coupon | €390.00 |
| 30/07/2032 | Tax on the coupon | -€48.75 |
| 30/07/2033 | Gross coupon | €390.00 |
| 30/07/2033 | Tax on the coupon | -€48.75 |
| 30/07/2034 | Gross coupon | €390.00 |
| 30/07/2034 | Tax on the coupon | -€48.75 |
| 30/07/2035 | Gross coupon | €390.00 |
| 30/07/2035 | Tax on the coupon | -€48.75 |
| 30/07/2036 | Gross coupon | €390.00 |
| 30/07/2036 | Tax on the coupon | -€48.75 |
| 30/07/2037 | Gross coupon | €390.00 |
| 30/07/2037 | Tax on the coupon | -€48.75 |
| 30/07/2038 | Gross coupon | €390.00 |
| 30/07/2038 | Tax on the coupon | -€48.75 |
| 30/07/2039 | Gross coupon | €390.00 |
| 30/07/2039 | Tax on the coupon | -€48.75 |
| 30/07/2039 | Redemption of the nominal | €10,000.00 |
| 30/07/2039 | Capital gain tax | -€41.63 |
| Net gain at maturity | €4,651.89 | |
It is the sum of all the movements: €15,080.82 received (coupons, redemption, tax credit on accrued interest) minus €10,428.93 paid (price, accrued interest, commissions and taxes) = €4,651.89. 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.