OAT TF 4% AP60 EUR
FR0010870956
DIRECTION GENERALE DU TRESORForeign governmentHi-MTF · MOT
- Last price
- 78.11
- as of 14/10/2026
- Gross yield
- 5.43%
- Net yield
- 4.79%
- Maturity
- 25/04/2060
- 33y 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 Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.
Simulate a purchase
Change the values: every figure updates at once. The page link keeps the simulation.
- Settlement amount
- €9,578.02
- Net gain at maturity
- €16,373.63
- Net yield
- 4.79%
- Gross yield
- 5.43%
Order details
- Settlement date
- 20/10/2026
- Purchase price (clean)
- 78.11
- Nominal value
- 12,000
- Clean value
- €9,373.20
- Gross accrued interest
- €234.08
- Tax credit on accrued interest
- -€29.26
- Commissions
- €0.00
- Settlement amount
- €9,578.02
Yields and duration
| Gross | Net | Net without capital gain tax | |
|---|---|---|---|
| Annual yield | 5.43% | 4.79% | 4.83% |
| Modified duration | 15.86 | 16.78 | 16.72 |
The last column applies when the capital gain is offset by earlier capital losses.
Outcome at maturity
- Gross coupons
- €16,320.00
- Tax on coupons
- -€2,040.00
- Redemption of the nominal
- €12,000.00
- Capital gain
- €2,626.80
- Capital gain tax
- -€328.35
- Net gain at maturity
- €16,373.63
Cash flows
| Date | Description | Amount |
|---|---|---|
| 20/10/2026 | Payment of the price | -€9,373.20 |
| 20/10/2026 | Gross accrued interest | -€234.08 |
| 20/10/2026 | Tax credit on accrued interest | €29.26 |
| 25/04/2027 | Gross coupon | €480.00 |
| 25/04/2027 | Tax on the coupon | -€60.00 |
| 25/04/2028 | Gross coupon | €480.00 |
| 25/04/2028 | Tax on the coupon | -€60.00 |
| 25/04/2029 | Gross coupon | €480.00 |
| 25/04/2029 | Tax on the coupon | -€60.00 |
| 25/04/2030 | Gross coupon | €480.00 |
| 25/04/2030 | Tax on the coupon | -€60.00 |
| 25/04/2031 | Gross coupon | €480.00 |
| 25/04/2031 | Tax on the coupon | -€60.00 |
| 25/04/2032 | Gross coupon | €480.00 |
| 25/04/2032 | Tax on the coupon | -€60.00 |
| 25/04/2033 | Gross coupon | €480.00 |
| 25/04/2033 | Tax on the coupon | -€60.00 |
| 25/04/2034 | Gross coupon | €480.00 |
| 25/04/2034 | Tax on the coupon | -€60.00 |
| 25/04/2035 | Gross coupon | €480.00 |
| 25/04/2035 | Tax on the coupon | -€60.00 |
| 25/04/2036 | Gross coupon | €480.00 |
| 25/04/2036 | Tax on the coupon | -€60.00 |
| 25/04/2037 | Gross coupon | €480.00 |
| 25/04/2037 | Tax on the coupon | -€60.00 |
| 25/04/2038 | Gross coupon | €480.00 |
| 25/04/2038 | Tax on the coupon | -€60.00 |
| 25/04/2039 | Gross coupon | €480.00 |
| 25/04/2039 | Tax on the coupon | -€60.00 |
| 25/04/2040 | Gross coupon | €480.00 |
| 25/04/2040 | Tax on the coupon | -€60.00 |
| 25/04/2041 | Gross coupon | €480.00 |
| 25/04/2041 | Tax on the coupon | -€60.00 |
| 25/04/2042 | Gross coupon | €480.00 |
| 25/04/2042 | Tax on the coupon | -€60.00 |
| 25/04/2043 | Gross coupon | €480.00 |
| 25/04/2043 | Tax on the coupon | -€60.00 |
| 25/04/2044 | Gross coupon | €480.00 |
| 25/04/2044 | Tax on the coupon | -€60.00 |
| 25/04/2045 | Gross coupon | €480.00 |
| 25/04/2045 | Tax on the coupon | -€60.00 |
| 25/04/2046 | Gross coupon | €480.00 |
| 25/04/2046 | Tax on the coupon | -€60.00 |
| 25/04/2047 | Gross coupon | €480.00 |
| 25/04/2047 | Tax on the coupon | -€60.00 |
| 25/04/2048 | Gross coupon | €480.00 |
| 25/04/2048 | Tax on the coupon | -€60.00 |
| 25/04/2049 | Gross coupon | €480.00 |
| 25/04/2049 | Tax on the coupon | -€60.00 |
| 25/04/2050 | Gross coupon | €480.00 |
| 25/04/2050 | Tax on the coupon | -€60.00 |
| 25/04/2051 | Gross coupon | €480.00 |
| 25/04/2051 | Tax on the coupon | -€60.00 |
| 25/04/2052 | Gross coupon | €480.00 |
| 25/04/2052 | Tax on the coupon | -€60.00 |
| 25/04/2053 | Gross coupon | €480.00 |
| 25/04/2053 | Tax on the coupon | -€60.00 |
| 25/04/2054 | Gross coupon | €480.00 |
| 25/04/2054 | Tax on the coupon | -€60.00 |
| 25/04/2055 | Gross coupon | €480.00 |
| 25/04/2055 | Tax on the coupon | -€60.00 |
| 25/04/2056 | Gross coupon | €480.00 |
| 25/04/2056 | Tax on the coupon | -€60.00 |
| 25/04/2057 | Gross coupon | €480.00 |
| 25/04/2057 | Tax on the coupon | -€60.00 |
| 25/04/2058 | Gross coupon | €480.00 |
| 25/04/2058 | Tax on the coupon | -€60.00 |
| 25/04/2059 | Gross coupon | €480.00 |
| 25/04/2059 | Tax on the coupon | -€60.00 |
| 25/04/2060 | Gross coupon | €480.00 |
| 25/04/2060 | Tax on the coupon | -€60.00 |
| 25/04/2060 | Redemption of the nominal | €12,000.00 |
| 25/04/2060 | Capital gain tax | -€328.35 |
| Net gain at maturity | €16,373.63 | |
It is the sum of all the movements: €28,349.26 received (coupons, redemption, tax credit on accrued interest) minus €11,975.63 paid (price, accrued interest, commissions and taxes) = €16,373.63. 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.