OBLIGACIONESEI 2.05% NOV39 EUR
ES0000012M69
SECRETARÍA GENERAL DEL TESORO Y FINANCIACIÓN INTERNACIONALForeign governmentMOT
- Last price
- 100.11
- as of 14/10/2026
- Gross yield
- 2.04%
- Net yield
- 1.78%
- Maturity
- 30/11/2039
- 13y 1m
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 Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.
Simulate a purchase
Change the values: every figure updates at once. The page link keeps the simulation.
- Settlement amount
- €9,152.76
- Net gain at maturity
- €2,107.40
- Net yield
- 1.78%
- Gross yield
- 2.04%
Order details
- Settlement date
- 19/10/2026
- Purchase price (clean)
- 100.11
- Nominal value
- 9,000
- Clean value
- €9,009.90
- Gross accrued interest
- €163.27
- Tax credit on accrued interest
- -€20.41
- Commissions
- €0.00
- Settlement amount
- €9,152.76
Yields and duration
| Gross | Net | Net without capital gain tax | |
|---|---|---|---|
| Annual yield | 2.04% | 1.78% | 1.78% |
| Modified duration | 11.21 | 11.27 | 11.27 |
The last column applies when the capital gain is offset by earlier capital losses.
Outcome at maturity
- Gross coupons
- €2,583.00
- Tax on coupons
- -€322.84
- Redemption of the nominal
- €9,000.00
- Capital loss
- -€9.90
- Capital gain tax
- -€0.00
- Net gain at maturity
- €2,107.40
No tax: in Italy the capital loss can offset capital gains of the next four years.
Cash flows
| Date | Description | Amount |
|---|---|---|
| 19/10/2026 | Payment of the price | -€9,009.90 |
| 19/10/2026 | Gross accrued interest | -€163.27 |
| 19/10/2026 | Tax credit on accrued interest | €20.41 |
| 30/11/2026 | Gross coupon | €184.50 |
| 30/11/2026 | Tax on the coupon | -€23.06 |
| 30/11/2027 | Gross coupon | €184.50 |
| 30/11/2027 | Tax on the coupon | -€23.06 |
| 30/11/2028 | Gross coupon | €184.50 |
| 30/11/2028 | Tax on the coupon | -€23.06 |
| 30/11/2029 | Gross coupon | €184.50 |
| 30/11/2029 | Tax on the coupon | -€23.06 |
| 30/11/2030 | Gross coupon | €184.50 |
| 30/11/2030 | Tax on the coupon | -€23.06 |
| 30/11/2031 | Gross coupon | €184.50 |
| 30/11/2031 | Tax on the coupon | -€23.06 |
| 30/11/2032 | Gross coupon | €184.50 |
| 30/11/2032 | Tax on the coupon | -€23.06 |
| 30/11/2033 | Gross coupon | €184.50 |
| 30/11/2033 | Tax on the coupon | -€23.06 |
| 30/11/2034 | Gross coupon | €184.50 |
| 30/11/2034 | Tax on the coupon | -€23.06 |
| 30/11/2035 | Gross coupon | €184.50 |
| 30/11/2035 | Tax on the coupon | -€23.06 |
| 30/11/2036 | Gross coupon | €184.50 |
| 30/11/2036 | Tax on the coupon | -€23.06 |
| 30/11/2037 | Gross coupon | €184.50 |
| 30/11/2037 | Tax on the coupon | -€23.06 |
| 30/11/2038 | Gross coupon | €184.50 |
| 30/11/2038 | Tax on the coupon | -€23.06 |
| 30/11/2039 | Gross coupon | €184.50 |
| 30/11/2039 | Tax on the coupon | -€23.06 |
| 30/11/2039 | Redemption of the nominal | €9,000.00 |
| Net gain at maturity | €2,107.40 | |
It is the sum of all the movements: €11,603.41 received (coupons, redemption, tax credit on accrued interest) minus €9,496.01 paid (price, accrued interest, commissions and taxes) = €2,107.40. 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.