BTP 3,25% 01/09/2046
IT0005083057
REPUBBLICA ITALIANABTPHi-MTF · MOT
- Last price
- 78.81
- as of 14/10/2026
- Gross yield
- 5.00%
- Net yield
- 4.41%
- Maturity
- 01/09/2046
- 19y 10m
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 Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.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
- €9,503.39
- Net gain at maturity
- €9,003.56
- Net yield
- 4.41%
- Gross yield
- 4.99%
Order details
- Settlement date
- 20/10/2026
- Purchase price (clean)
- 78.81
- Nominal value
- 12,000
- Clean value
- €9,457.20
- Gross accrued interest
- €52.79
- Tax credit on accrued interest
- -€6.60
- Commissions
- €0.00
- Settlement amount
- €9,503.39
Yields and duration
| Gross | Net | Net without capital gain tax | |
|---|---|---|---|
| Annual yield | 4.99% | 4.41% | 4.51% |
| Modified duration | 13.30 | 13.63 | 13.57 |
The last column applies when the capital gain is offset by earlier capital losses.
Outcome at maturity
- Gross coupons
- €7,800.00
- Tax on coupons
- -€975.20
- Redemption of the nominal
- €12,000.00
- Capital gain
- €2,542.80
- Capital gain tax
- -€317.85
- Net gain at maturity
- €9,003.56
Cash flows
| Date | Description | Amount |
|---|---|---|
| 20/10/2026 | Payment of the price | -€9,457.20 |
| 20/10/2026 | Gross accrued interest | -€52.79 |
| 20/10/2026 | Tax credit on accrued interest | €6.60 |
| 01/03/2027 | Gross coupon | €195.00 |
| 01/03/2027 | Tax on the coupon | -€24.38 |
| 01/09/2027 | Gross coupon | €195.00 |
| 01/09/2027 | Tax on the coupon | -€24.38 |
| 01/03/2028 | Gross coupon | €195.00 |
| 01/03/2028 | Tax on the coupon | -€24.38 |
| 01/09/2028 | Gross coupon | €195.00 |
| 01/09/2028 | Tax on the coupon | -€24.38 |
| 01/03/2029 | Gross coupon | €195.00 |
| 01/03/2029 | Tax on the coupon | -€24.38 |
| 01/09/2029 | Gross coupon | €195.00 |
| 01/09/2029 | Tax on the coupon | -€24.38 |
| 01/03/2030 | Gross coupon | €195.00 |
| 01/03/2030 | Tax on the coupon | -€24.38 |
| 01/09/2030 | Gross coupon | €195.00 |
| 01/09/2030 | Tax on the coupon | -€24.38 |
| 01/03/2031 | Gross coupon | €195.00 |
| 01/03/2031 | Tax on the coupon | -€24.38 |
| 01/09/2031 | Gross coupon | €195.00 |
| 01/09/2031 | Tax on the coupon | -€24.38 |
| 01/03/2032 | Gross coupon | €195.00 |
| 01/03/2032 | Tax on the coupon | -€24.38 |
| 01/09/2032 | Gross coupon | €195.00 |
| 01/09/2032 | Tax on the coupon | -€24.38 |
| 01/03/2033 | Gross coupon | €195.00 |
| 01/03/2033 | Tax on the coupon | -€24.38 |
| 01/09/2033 | Gross coupon | €195.00 |
| 01/09/2033 | Tax on the coupon | -€24.38 |
| 01/03/2034 | Gross coupon | €195.00 |
| 01/03/2034 | Tax on the coupon | -€24.38 |
| 01/09/2034 | Gross coupon | €195.00 |
| 01/09/2034 | Tax on the coupon | -€24.38 |
| 01/03/2035 | Gross coupon | €195.00 |
| 01/03/2035 | Tax on the coupon | -€24.38 |
| 01/09/2035 | Gross coupon | €195.00 |
| 01/09/2035 | Tax on the coupon | -€24.38 |
| 01/03/2036 | Gross coupon | €195.00 |
| 01/03/2036 | Tax on the coupon | -€24.38 |
| 01/09/2036 | Gross coupon | €195.00 |
| 01/09/2036 | Tax on the coupon | -€24.38 |
| 01/03/2037 | Gross coupon | €195.00 |
| 01/03/2037 | Tax on the coupon | -€24.38 |
| 01/09/2037 | Gross coupon | €195.00 |
| 01/09/2037 | Tax on the coupon | -€24.38 |
| 01/03/2038 | Gross coupon | €195.00 |
| 01/03/2038 | Tax on the coupon | -€24.38 |
| 01/09/2038 | Gross coupon | €195.00 |
| 01/09/2038 | Tax on the coupon | -€24.38 |
| 01/03/2039 | Gross coupon | €195.00 |
| 01/03/2039 | Tax on the coupon | -€24.38 |
| 01/09/2039 | Gross coupon | €195.00 |
| 01/09/2039 | Tax on the coupon | -€24.38 |
| 01/03/2040 | Gross coupon | €195.00 |
| 01/03/2040 | Tax on the coupon | -€24.38 |
| 01/09/2040 | Gross coupon | €195.00 |
| 01/09/2040 | Tax on the coupon | -€24.38 |
| 01/03/2041 | Gross coupon | €195.00 |
| 01/03/2041 | Tax on the coupon | -€24.38 |
| 01/09/2041 | Gross coupon | €195.00 |
| 01/09/2041 | Tax on the coupon | -€24.38 |
| 01/03/2042 | Gross coupon | €195.00 |
| 01/03/2042 | Tax on the coupon | -€24.38 |
| 01/09/2042 | Gross coupon | €195.00 |
| 01/09/2042 | Tax on the coupon | -€24.38 |
| 01/03/2043 | Gross coupon | €195.00 |
| 01/03/2043 | Tax on the coupon | -€24.38 |
| 01/09/2043 | Gross coupon | €195.00 |
| 01/09/2043 | Tax on the coupon | -€24.38 |
| 01/03/2044 | Gross coupon | €195.00 |
| 01/03/2044 | Tax on the coupon | -€24.38 |
| 01/09/2044 | Gross coupon | €195.00 |
| 01/09/2044 | Tax on the coupon | -€24.38 |
| 01/03/2045 | Gross coupon | €195.00 |
| 01/03/2045 | Tax on the coupon | -€24.38 |
| 01/09/2045 | Gross coupon | €195.00 |
| 01/09/2045 | Tax on the coupon | -€24.38 |
| 01/03/2046 | Gross coupon | €195.00 |
| 01/03/2046 | Tax on the coupon | -€24.38 |
| 01/09/2046 | Gross coupon | €195.00 |
| 01/09/2046 | Tax on the coupon | -€24.38 |
| 01/09/2046 | Redemption of the nominal | €12,000.00 |
| 01/09/2046 | Capital gain tax | -€317.85 |
| Net gain at maturity | €9,003.56 | |
It is the sum of all the movements: €19,806.60 received (coupons, redemption, tax credit on accrued interest) minus €10,803.04 paid (price, accrued interest, commissions and taxes) = €9,003.56. 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.