OBLIGACIONES FX 3.25% APR34 EUR
ES0000012M85
SECRETARÍA GENERAL DEL TESORO Y FINANCIACIÓN INTERNACIONALForeign governmentMOT
- Last price
- 96.00
- as of 14/10/2026
- Gross yield
- 3.87%
- Net yield
- 3.39%
- Maturity
- 30/04/2034
- 7y 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 Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.
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- Settlement amount
- €9,731.67
- Net gain at maturity
- €2,493.29
- Net yield
- 3.39%
- Gross yield
- 3.87%
Order details
- Settlement date
- 16/10/2026
- Purchase price (clean)
- 96.00
- Nominal value
- 10,000
- Clean value
- €9,600.00
- Gross accrued interest
- €150.48
- Tax credit on accrued interest
- -€18.81
- Commissions
- €0.00
- Settlement amount
- €9,731.67
Yields and duration
| Gross | Net | Net without capital gain tax | |
|---|---|---|---|
| Annual yield | 3.87% | 3.39% | 3.45% |
| Modified duration | 6.44 | 6.49 | 6.48 |
The last column applies when the capital gain is offset by earlier capital losses.
Outcome at maturity
- Gross coupons
- €2,600.00
- Tax on coupons
- -€325.04
- Redemption of the nominal
- €10,000.00
- Capital gain
- €400.00
- Capital gain tax
- -€50.00
- Net gain at maturity
- €2,493.29
Cash flows
| Date | Description | Amount |
|---|---|---|
| 16/10/2026 | Payment of the price | -€9,600.00 |
| 16/10/2026 | Gross accrued interest | -€150.48 |
| 16/10/2026 | Tax credit on accrued interest | €18.81 |
| 30/04/2027 | Gross coupon | €325.00 |
| 30/04/2027 | Tax on the coupon | -€40.63 |
| 30/04/2028 | Gross coupon | €325.00 |
| 30/04/2028 | Tax on the coupon | -€40.63 |
| 30/04/2029 | Gross coupon | €325.00 |
| 30/04/2029 | Tax on the coupon | -€40.63 |
| 30/04/2030 | Gross coupon | €325.00 |
| 30/04/2030 | Tax on the coupon | -€40.63 |
| 30/04/2031 | Gross coupon | €325.00 |
| 30/04/2031 | Tax on the coupon | -€40.63 |
| 30/04/2032 | Gross coupon | €325.00 |
| 30/04/2032 | Tax on the coupon | -€40.63 |
| 30/04/2033 | Gross coupon | €325.00 |
| 30/04/2033 | Tax on the coupon | -€40.63 |
| 30/04/2034 | Gross coupon | €325.00 |
| 30/04/2034 | Tax on the coupon | -€40.63 |
| 30/04/2034 | Redemption of the nominal | €10,000.00 |
| 30/04/2034 | Capital gain tax | -€50.00 |
| Net gain at maturity | €2,493.29 | |
It is the sum of all the movements: €12,618.81 received (coupons, redemption, tax credit on accrued interest) minus €10,125.52 paid (price, accrued interest, commissions and taxes) = €2,493.29. 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.