OAT TF 2% NV32 EUR
FR001400BKZ3
DIRECTION GENERALE DU TRESORForeign governmentHi-MTF · MOT
- Last price
- 87.84
- as of 16/10/2026
- Gross yield
- 4.31%
- Net yield
- 3.79%
- Maturity
- 25/11/2032
- 6y 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 Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.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
- €9,835.91
- Net gain at maturity
- €2,344.39
- Net yield
- 3.79%
- Gross yield
- 4.31%
Order details
- Settlement date
- 20/10/2026
- Purchase price (clean)
- 87.84
- Nominal value
- 11,000
- Clean value
- €9,662.40
- Gross accrued interest
- €198.30
- Tax credit on accrued interest
- -€24.79
- Commissions
- €0.00
- Settlement amount
- €9,835.91
Yields and duration
| Gross | Net | Net without capital gain tax | |
|---|---|---|---|
| Annual yield | 4.31% | 3.79% | 4.04% |
| Modified duration | 5.43 | 5.47 | 5.45 |
The last column applies when the capital gain is offset by earlier capital losses.
Outcome at maturity
- Gross coupons
- €1,540.00
- Tax on coupons
- -€192.50
- Redemption of the nominal
- €11,000.00
- Capital gain
- €1,337.60
- Capital gain tax
- -€167.20
- Net gain at maturity
- €2,344.39
Cash flows
| Date | Description | Amount |
|---|---|---|
| 20/10/2026 | Payment of the price | -€9,662.40 |
| 20/10/2026 | Gross accrued interest | -€198.30 |
| 20/10/2026 | Tax credit on accrued interest | €24.79 |
| 25/11/2026 | Gross coupon | €220.00 |
| 25/11/2026 | Tax on the coupon | -€27.50 |
| 25/11/2027 | Gross coupon | €220.00 |
| 25/11/2027 | Tax on the coupon | -€27.50 |
| 25/11/2028 | Gross coupon | €220.00 |
| 25/11/2028 | Tax on the coupon | -€27.50 |
| 25/11/2029 | Gross coupon | €220.00 |
| 25/11/2029 | Tax on the coupon | -€27.50 |
| 25/11/2030 | Gross coupon | €220.00 |
| 25/11/2030 | Tax on the coupon | -€27.50 |
| 25/11/2031 | Gross coupon | €220.00 |
| 25/11/2031 | Tax on the coupon | -€27.50 |
| 25/11/2032 | Gross coupon | €220.00 |
| 25/11/2032 | Tax on the coupon | -€27.50 |
| 25/11/2032 | Redemption of the nominal | €11,000.00 |
| 25/11/2032 | Capital gain tax | -€167.20 |
| Net gain at maturity | €2,344.39 | |
It is the sum of all the movements: €12,564.79 received (coupons, redemption, tax credit on accrued interest) minus €10,220.40 paid (price, accrued interest, commissions and taxes) = €2,344.39. 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.