OAT TF 1,25% MG38 EUR
FR0014009O62
DIRECTION GENERALE DU TRESORForeign governmentMOT
- Last price
- 68.33
- as of 16/10/2026
- Gross yield
- 4.89%
- Net yield
- 4.36%
- Maturity
- 25/05/2038
- 11y 7m
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 Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.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
- €9,628.29
- Net gain at maturity
- €5,654.92
- Net yield
- 4.36%
- Gross yield
- 4.89%
Order details
- Settlement date
- 20/10/2026
- Purchase price (clean)
- 68.33
- Nominal value
- 14,000
- Clean value
- €9,566.20
- Gross accrued interest
- €70.96
- Tax credit on accrued interest
- -€8.87
- Commissions
- €0.00
- Settlement amount
- €9,628.29
Yields and duration
| Gross | Net | Net without capital gain tax | |
|---|---|---|---|
| Annual yield | 4.89% | 4.36% | 4.69% |
| Modified duration | 10.11 | 10.19 | 10.14 |
The last column applies when the capital gain is offset by earlier capital losses.
Outcome at maturity
- Gross coupons
- €2,100.00
- Tax on coupons
- -€262.56
- Redemption of the nominal
- €14,000.00
- Capital gain
- €4,433.80
- Capital gain tax
- -€554.23
- Net gain at maturity
- €5,654.92
Cash flows
| Date | Description | Amount |
|---|---|---|
| 20/10/2026 | Payment of the price | -€9,566.20 |
| 20/10/2026 | Gross accrued interest | -€70.96 |
| 20/10/2026 | Tax credit on accrued interest | €8.87 |
| 25/05/2027 | Gross coupon | €175.00 |
| 25/05/2027 | Tax on the coupon | -€21.88 |
| 25/05/2028 | Gross coupon | €175.00 |
| 25/05/2028 | Tax on the coupon | -€21.88 |
| 25/05/2029 | Gross coupon | €175.00 |
| 25/05/2029 | Tax on the coupon | -€21.88 |
| 25/05/2030 | Gross coupon | €175.00 |
| 25/05/2030 | Tax on the coupon | -€21.88 |
| 25/05/2031 | Gross coupon | €175.00 |
| 25/05/2031 | Tax on the coupon | -€21.88 |
| 25/05/2032 | Gross coupon | €175.00 |
| 25/05/2032 | Tax on the coupon | -€21.88 |
| 25/05/2033 | Gross coupon | €175.00 |
| 25/05/2033 | Tax on the coupon | -€21.88 |
| 25/05/2034 | Gross coupon | €175.00 |
| 25/05/2034 | Tax on the coupon | -€21.88 |
| 25/05/2035 | Gross coupon | €175.00 |
| 25/05/2035 | Tax on the coupon | -€21.88 |
| 25/05/2036 | Gross coupon | €175.00 |
| 25/05/2036 | Tax on the coupon | -€21.88 |
| 25/05/2037 | Gross coupon | €175.00 |
| 25/05/2037 | Tax on the coupon | -€21.88 |
| 25/05/2038 | Gross coupon | €175.00 |
| 25/05/2038 | Tax on the coupon | -€21.88 |
| 25/05/2038 | Redemption of the nominal | €14,000.00 |
| 25/05/2038 | Capital gain tax | -€554.23 |
| Net gain at maturity | €5,654.92 | |
It is the sum of all the movements: €16,108.87 received (coupons, redemption, tax credit on accrued interest) minus €10,453.95 paid (price, accrued interest, commissions and taxes) = €5,654.92. 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.