ROMANIA TF 5,125% GN48 USD

XS1837994794RomaniaMINISTERUL FINANȚELORForeign governmentHi-MTF · MOT

Last price
75.30
as of 16/10/2026
Gross yield
7.58%
Net yield
6.68%
Maturity
15/06/2048
21y 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 Prices and data may be inaccurate or out of date: always check with your broker and the bond documentation and, if needed, consult a licensed adviser.

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USD

Last price: 75.30 on 16/10/2026

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$9,222.72
Net gain at maturity
US$14,245.42
Net yield
6.67%
Gross yield
7.57%

Order details

Settlement date
20/10/2026
Purchase price (clean)
75.30
Nominal value
12,000
Clean value
US$9,036.00
Gross accrued interest
US$213.40
Tax credit on accrued interest
-US$26.68
Commissions
US$0.00
Settlement amount
US$9,222.72

Yields and duration

GrossNetNet without capital gain tax
Annual yield7.57%6.67%6.76%
Modified duration10.8911.4711.41

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

Outcome at maturity

Gross coupons
US$13,530.00
Tax on coupons
-US$1,691.36
Redemption of the nominal
US$12,000.00
Capital gain
US$2,964.00
Capital gain tax
-US$370.50
Net gain at maturity
US$14,245.42

Cash flows

DateDescriptionAmount
20/10/2026Payment of the price-US$9,036.00
20/10/2026Gross accrued interest-US$213.40
20/10/2026Tax credit on accrued interestUS$26.68
15/12/2026Gross couponUS$307.50
15/12/2026Tax on the coupon-US$38.44
15/06/2027Gross couponUS$307.50
15/06/2027Tax on the coupon-US$38.44
15/12/2027Gross couponUS$307.50
15/12/2027Tax on the coupon-US$38.44
15/06/2028Gross couponUS$307.50
15/06/2028Tax on the coupon-US$38.44
15/12/2028Gross couponUS$307.50
15/12/2028Tax on the coupon-US$38.44
15/06/2029Gross couponUS$307.50
15/06/2029Tax on the coupon-US$38.44
15/12/2029Gross couponUS$307.50
15/12/2029Tax on the coupon-US$38.44
15/06/2030Gross couponUS$307.50
15/06/2030Tax on the coupon-US$38.44
15/12/2030Gross couponUS$307.50
15/12/2030Tax on the coupon-US$38.44
15/06/2031Gross couponUS$307.50
15/06/2031Tax on the coupon-US$38.44
15/12/2031Gross couponUS$307.50
15/12/2031Tax on the coupon-US$38.44
15/06/2032Gross couponUS$307.50
15/06/2032Tax on the coupon-US$38.44
15/12/2032Gross couponUS$307.50
15/12/2032Tax on the coupon-US$38.44
15/06/2033Gross couponUS$307.50
15/06/2033Tax on the coupon-US$38.44
15/12/2033Gross couponUS$307.50
15/12/2033Tax on the coupon-US$38.44
15/06/2034Gross couponUS$307.50
15/06/2034Tax on the coupon-US$38.44
15/12/2034Gross couponUS$307.50
15/12/2034Tax on the coupon-US$38.44
15/06/2035Gross couponUS$307.50
15/06/2035Tax on the coupon-US$38.44
15/12/2035Gross couponUS$307.50
15/12/2035Tax on the coupon-US$38.44
15/06/2036Gross couponUS$307.50
15/06/2036Tax on the coupon-US$38.44
15/12/2036Gross couponUS$307.50
15/12/2036Tax on the coupon-US$38.44
15/06/2037Gross couponUS$307.50
15/06/2037Tax on the coupon-US$38.44
15/12/2037Gross couponUS$307.50
15/12/2037Tax on the coupon-US$38.44
15/06/2038Gross couponUS$307.50
15/06/2038Tax on the coupon-US$38.44
15/12/2038Gross couponUS$307.50
15/12/2038Tax on the coupon-US$38.44
15/06/2039Gross couponUS$307.50
15/06/2039Tax on the coupon-US$38.44
15/12/2039Gross couponUS$307.50
15/12/2039Tax on the coupon-US$38.44
15/06/2040Gross couponUS$307.50
15/06/2040Tax on the coupon-US$38.44
15/12/2040Gross couponUS$307.50
15/12/2040Tax on the coupon-US$38.44
15/06/2041Gross couponUS$307.50
15/06/2041Tax on the coupon-US$38.44
15/12/2041Gross couponUS$307.50
15/12/2041Tax on the coupon-US$38.44
15/06/2042Gross couponUS$307.50
15/06/2042Tax on the coupon-US$38.44
15/12/2042Gross couponUS$307.50
15/12/2042Tax on the coupon-US$38.44
15/06/2043Gross couponUS$307.50
15/06/2043Tax on the coupon-US$38.44
15/12/2043Gross couponUS$307.50
15/12/2043Tax on the coupon-US$38.44
15/06/2044Gross couponUS$307.50
15/06/2044Tax on the coupon-US$38.44
15/12/2044Gross couponUS$307.50
15/12/2044Tax on the coupon-US$38.44
15/06/2045Gross couponUS$307.50
15/06/2045Tax on the coupon-US$38.44
15/12/2045Gross couponUS$307.50
15/12/2045Tax on the coupon-US$38.44
15/06/2046Gross couponUS$307.50
15/06/2046Tax on the coupon-US$38.44
15/12/2046Gross couponUS$307.50
15/12/2046Tax on the coupon-US$38.44
15/06/2047Gross couponUS$307.50
15/06/2047Tax on the coupon-US$38.44
15/12/2047Gross couponUS$307.50
15/12/2047Tax on the coupon-US$38.44
15/06/2048Gross couponUS$307.50
15/06/2048Tax on the coupon-US$38.44
15/06/2048Redemption of the nominalUS$12,000.00
15/06/2048Capital gain tax-US$370.50
Net gain at maturityUS$14,245.42

It is the sum of all the movements: US$25,556.68 received (coupons, redemption, tax credit on accrued interest) minus US$11,311.26 paid (price, accrued interest, commissions and taxes) = US$14,245.42. 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.