BTP 3,8% 01/07/2036
IT0005706285
REPUBBLICA ITALIANABTPHi-MTF · MOT
- Last price
- 94.48
- as of 14/10/2026
- Gross yield
- 4.56%
- Net yield
- 3.99%
- Maturity
- 01/07/2036
- 9y 8m
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 Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.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
- €9,548.29
- Net gain at maturity
- €3,707.71
- Net yield
- 3.99%
- Gross yield
- 4.56%
Order details
- Settlement date
- 20/10/2026
- Purchase price (clean)
- 94.48
- Nominal value
- 10,000
- Clean value
- €9,448.00
- Gross accrued interest
- €114.62
- Tax credit on accrued interest
- -€14.33
- Commissions
- €0.00
- Settlement amount
- €9,548.29
Yields and duration
| Gross | Net | Net without capital gain tax | |
|---|---|---|---|
| Annual yield | 4.56% | 3.99% | 4.06% |
| Modified duration | 7.71 | 7.79 | 7.78 |
The last column applies when the capital gain is offset by earlier capital losses.
Outcome at maturity
- Gross coupons
- €3,800.00
- Tax on coupons
- -€475.00
- Redemption of the nominal
- €10,000.00
- Capital gain
- €552.00
- Capital gain tax
- -€69.00
- Net gain at maturity
- €3,707.71
Cash flows
| Date | Description | Amount |
|---|---|---|
| 20/10/2026 | Payment of the price | -€9,448.00 |
| 20/10/2026 | Gross accrued interest | -€114.62 |
| 20/10/2026 | Tax credit on accrued interest | €14.33 |
| 01/01/2027 | Gross coupon | €190.00 |
| 01/01/2027 | Tax on the coupon | -€23.75 |
| 01/07/2027 | Gross coupon | €190.00 |
| 01/07/2027 | Tax on the coupon | -€23.75 |
| 01/01/2028 | Gross coupon | €190.00 |
| 01/01/2028 | Tax on the coupon | -€23.75 |
| 01/07/2028 | Gross coupon | €190.00 |
| 01/07/2028 | Tax on the coupon | -€23.75 |
| 01/01/2029 | Gross coupon | €190.00 |
| 01/01/2029 | Tax on the coupon | -€23.75 |
| 01/07/2029 | Gross coupon | €190.00 |
| 01/07/2029 | Tax on the coupon | -€23.75 |
| 01/01/2030 | Gross coupon | €190.00 |
| 01/01/2030 | Tax on the coupon | -€23.75 |
| 01/07/2030 | Gross coupon | €190.00 |
| 01/07/2030 | Tax on the coupon | -€23.75 |
| 01/01/2031 | Gross coupon | €190.00 |
| 01/01/2031 | Tax on the coupon | -€23.75 |
| 01/07/2031 | Gross coupon | €190.00 |
| 01/07/2031 | Tax on the coupon | -€23.75 |
| 01/01/2032 | Gross coupon | €190.00 |
| 01/01/2032 | Tax on the coupon | -€23.75 |
| 01/07/2032 | Gross coupon | €190.00 |
| 01/07/2032 | Tax on the coupon | -€23.75 |
| 01/01/2033 | Gross coupon | €190.00 |
| 01/01/2033 | Tax on the coupon | -€23.75 |
| 01/07/2033 | Gross coupon | €190.00 |
| 01/07/2033 | Tax on the coupon | -€23.75 |
| 01/01/2034 | Gross coupon | €190.00 |
| 01/01/2034 | Tax on the coupon | -€23.75 |
| 01/07/2034 | Gross coupon | €190.00 |
| 01/07/2034 | Tax on the coupon | -€23.75 |
| 01/01/2035 | Gross coupon | €190.00 |
| 01/01/2035 | Tax on the coupon | -€23.75 |
| 01/07/2035 | Gross coupon | €190.00 |
| 01/07/2035 | Tax on the coupon | -€23.75 |
| 01/01/2036 | Gross coupon | €190.00 |
| 01/01/2036 | Tax on the coupon | -€23.75 |
| 01/07/2036 | Gross coupon | €190.00 |
| 01/07/2036 | Tax on the coupon | -€23.75 |
| 01/07/2036 | Redemption of the nominal | €10,000.00 |
| 01/07/2036 | Capital gain tax | -€69.00 |
| Net gain at maturity | €3,707.71 | |
It is the sum of all the movements: €13,814.33 received (coupons, redemption, tax credit on accrued interest) minus €10,106.62 paid (price, accrued interest, commissions and taxes) = €3,707.71. 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.