USA FX 5% MAY45 USD

US912810UL07United StatesUnited States Department of the TreasuryForeign governmentEuroTLX · Hi-MTF

Last price
92.51
as of 09/10/2026
Gross yield
5.74%
Net yield
5.03%
Maturity
15/05/2045
18y 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 Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.

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USD

Last price: 92.51 on 09/10/2026

Commissions
%
€
€

Percent of the order value, with a minimum and a maximum in euro (empty maximum = no limit). For a flat fee enter only the minimum.

Amounts are in USD, the bond currency: exchange rate effects (and their taxation) are not considered.
Settlement amount
US$9,910.78
Net gain at maturity
US$9,219.13
Net yield
5.02%
Gross yield
5.73%

Order details

Settlement date
20/10/2026
Purchase price (clean)
92.51
Nominal value
10,500
Clean value
US$9,713.55
Gross accrued interest
US$225.41
Tax credit on accrued interest
-US$28.18
Commissions
US$0.00
Settlement amount
US$9,910.78

Yields and duration

GrossNetNet without capital gain tax
Annual yield5.73%5.02%5.06%
Modified duration11.1311.4911.48

The last column applies when the capital gain is offset by earlier capital losses.

Outcome at maturity

Gross coupons
US$9,975.00
Tax on coupons
-US$1,246.78
Redemption of the nominal
US$10,500.00
Capital gain
US$786.45
Capital gain tax
-US$98.31
Net gain at maturity
US$9,219.13

Cash flows

DateDescriptionAmount
20/10/2026Payment of the price-US$9,713.55
20/10/2026Gross accrued interest-US$225.41
20/10/2026Tax credit on accrued interestUS$28.18
15/11/2026Gross couponUS$262.50
15/11/2026Tax on the coupon-US$32.81
15/05/2027Gross couponUS$262.50
15/05/2027Tax on the coupon-US$32.81
15/11/2027Gross couponUS$262.50
15/11/2027Tax on the coupon-US$32.81
15/05/2028Gross couponUS$262.50
15/05/2028Tax on the coupon-US$32.81
15/11/2028Gross couponUS$262.50
15/11/2028Tax on the coupon-US$32.81
15/05/2029Gross couponUS$262.50
15/05/2029Tax on the coupon-US$32.81
15/11/2029Gross couponUS$262.50
15/11/2029Tax on the coupon-US$32.81
15/05/2030Gross couponUS$262.50
15/05/2030Tax on the coupon-US$32.81
15/11/2030Gross couponUS$262.50
15/11/2030Tax on the coupon-US$32.81
15/05/2031Gross couponUS$262.50
15/05/2031Tax on the coupon-US$32.81
15/11/2031Gross couponUS$262.50
15/11/2031Tax on the coupon-US$32.81
15/05/2032Gross couponUS$262.50
15/05/2032Tax on the coupon-US$32.81
15/11/2032Gross couponUS$262.50
15/11/2032Tax on the coupon-US$32.81
15/05/2033Gross couponUS$262.50
15/05/2033Tax on the coupon-US$32.81
15/11/2033Gross couponUS$262.50
15/11/2033Tax on the coupon-US$32.81
15/05/2034Gross couponUS$262.50
15/05/2034Tax on the coupon-US$32.81
15/11/2034Gross couponUS$262.50
15/11/2034Tax on the coupon-US$32.81
15/05/2035Gross couponUS$262.50
15/05/2035Tax on the coupon-US$32.81
15/11/2035Gross couponUS$262.50
15/11/2035Tax on the coupon-US$32.81
15/05/2036Gross couponUS$262.50
15/05/2036Tax on the coupon-US$32.81
15/11/2036Gross couponUS$262.50
15/11/2036Tax on the coupon-US$32.81
15/05/2037Gross couponUS$262.50
15/05/2037Tax on the coupon-US$32.81
15/11/2037Gross couponUS$262.50
15/11/2037Tax on the coupon-US$32.81
15/05/2038Gross couponUS$262.50
15/05/2038Tax on the coupon-US$32.81
15/11/2038Gross couponUS$262.50
15/11/2038Tax on the coupon-US$32.81
15/05/2039Gross couponUS$262.50
15/05/2039Tax on the coupon-US$32.81
15/11/2039Gross couponUS$262.50
15/11/2039Tax on the coupon-US$32.81
15/05/2040Gross couponUS$262.50
15/05/2040Tax on the coupon-US$32.81
15/11/2040Gross couponUS$262.50
15/11/2040Tax on the coupon-US$32.81
15/05/2041Gross couponUS$262.50
15/05/2041Tax on the coupon-US$32.81
15/11/2041Gross couponUS$262.50
15/11/2041Tax on the coupon-US$32.81
15/05/2042Gross couponUS$262.50
15/05/2042Tax on the coupon-US$32.81
15/11/2042Gross couponUS$262.50
15/11/2042Tax on the coupon-US$32.81
15/05/2043Gross couponUS$262.50
15/05/2043Tax on the coupon-US$32.81
15/11/2043Gross couponUS$262.50
15/11/2043Tax on the coupon-US$32.81
15/05/2044Gross couponUS$262.50
15/05/2044Tax on the coupon-US$32.81
15/11/2044Gross couponUS$262.50
15/11/2044Tax on the coupon-US$32.81
15/05/2045Gross couponUS$262.50
15/05/2045Tax on the coupon-US$32.81
15/05/2045Redemption of the nominalUS$10,500.00
15/05/2045Capital gain tax-US$98.31
Net gain at maturityUS$9,219.13

It is the sum of all the movements: US$20,503.18 received (coupons, redemption, tax credit on accrued interest) minus US$11,284.05 paid (price, accrued interest, commissions and taxes) = US$9,219.13. 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.