Treasury bill · Matured

912797SS7

Original term
17-Week
Maturity
Feb 24, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Feb 23, 2026
Analyzed through
Feb 20, 2026

Still priced, no longer analyzed. Risk numbers below are as of Feb 20, 2026, analytics stop about three months before maturity, because a security with one cashflow left does not have a meaningful yield curve exposure.

Risk, February 20, 2026

Yield to maturity
3.589%
Modified duration
0.003 yr
DV01
0.0000
Convexity
0.000
Dirty price
99.990

Where its rate sensitivity sits

All of it in one place. A bill pays a single cashflow at maturity, so its key rate profile is its modified duration of 0.003 years, sitting in the nearest bucket and nothing anywhere else. That is also why its duration equals its remaining term rather than being shorter: there are no coupons to pull the average payment date forward. A twelve-bucket chart of that would be eleven empty bars.

Against the money market curve

Priced 0.01 cents per 100 of face rich to the curve on that day.

Shown as a price rather than a yield. This bill is 4 days from redemption, and inside a month the difference between its price and the curve annualizes into a number that looks like an enormous mispricing rather than the fraction of a cent it is: worst case across eighteen years, 1,435 basis points on a residual of four cents. Its yield above is unaffected and stands: a bill quotes on an investment-rate basis, which is the market's own convention rather than an annualized stub.

Yield to maturity, 78 observations

3.55%3.60%3.65%3.70%3.75%3.80%3.85%3.90%Oct 28, 2025Feb 20, 2026Oct 28, 2025Yield to maturity3.818%Oct 30, 2025Yield to maturity3.869%Nov 3, 2025Yield to maturity3.888%Nov 5, 2025Yield to maturity3.857%Nov 7, 2025Yield to maturity3.813%Nov 12, 2025Yield to maturity3.833%Nov 14, 2025Yield to maturity3.862%Nov 18, 2025Yield to maturity3.851%Nov 20, 2025Yield to maturity3.871%Nov 24, 2025Yield to maturity3.828%Nov 26, 2025Yield to maturity3.806%Dec 1, 2025Yield to maturity3.784%Dec 3, 2025Yield to maturity3.680%Dec 5, 2025Yield to maturity3.689%Dec 9, 2025Yield to maturity3.678%Dec 11, 2025Yield to maturity3.626%Dec 15, 2025Yield to maturity3.604%Dec 17, 2025Yield to maturity3.613%Dec 19, 2025Yield to maturity3.591%Dec 23, 2025Yield to maturity3.601%Dec 26, 2025Yield to maturity3.589%Dec 30, 2025Yield to maturity3.578%Jan 2, 2026Yield to maturity3.597%Jan 6, 2026Yield to maturity3.586%Jan 8, 2026Yield to maturity3.605%Jan 12, 2026Yield to maturity3.614%Jan 14, 2026Yield to maturity3.644%Jan 16, 2026Yield to maturity3.642%Jan 21, 2026Yield to maturity3.662%Jan 23, 2026Yield to maturity3.681%Jan 27, 2026Yield to maturity3.690%Jan 29, 2026Yield to maturity3.700%Feb 2, 2026Yield to maturity3.678%Feb 4, 2026Yield to maturity3.687%Feb 6, 2026Yield to maturity3.676%Feb 10, 2026Yield to maturity3.665%Feb 12, 2026Yield to maturity3.674%Feb 17, 2026Yield to maturity3.662%Feb 19, 2026Yield to maturity3.580%Feb 20, 2026Yield to maturity3.589%

Price history

79 trading days to Feb 23, 2026

98.7599.0099.2599.5099.75100.00Oct 28, 2025Feb 23, 2026Oct 28, 2025Close98.781Oct 30, 2025Close98.785Nov 3, 2025Close98.821Nov 5, 2025Close98.851Nov 7, 2025Close98.905Nov 12, 2025Close98.930Nov 14, 2025Close98.963Nov 18, 2025Close98.987Nov 20, 2025Close99.002Nov 24, 2025Close99.055Nov 26, 2025Close99.091Dec 1, 2025Close99.137Dec 3, 2025Close99.180Dec 5, 2025Close99.218Dec 9, 2025Close99.240Dec 11, 2025Close99.270Dec 15, 2025Close99.314Dec 17, 2025Close99.331Dec 19, 2025Close99.374Dec 23, 2025Close99.392Dec 26, 2025Close99.443Dec 30, 2025Close99.464Jan 2, 2026Close99.510Jan 6, 2026Close99.531Jan 8, 2026Close99.548Jan 12, 2026Close99.586Jan 14, 2026Close99.602Jan 16, 2026Close99.652Jan 21, 2026Close99.670Jan 23, 2026Close99.708Jan 27, 2026Close99.728Jan 29, 2026Close99.747Feb 2, 2026Close99.789Feb 4, 2026Close99.808Feb 6, 2026Close99.849Feb 10, 2026Close99.870Feb 12, 2026Close99.889Feb 17, 2026Close99.940Feb 19, 2026Close99.961Feb 23, 2026Close100.000
The most recent 20 trading days of prices for 912797SS7.
DateBidOfferClose
Feb 23, 2026–99.990100.000
Feb 20, 2026–99.96199.990
Feb 19, 2026–99.95199.961
Feb 18, 2026–99.94099.951
Feb 17, 202699.93099.93099.940
Feb 13, 202699.89099.88999.930
Feb 12, 202699.88099.88099.889
Feb 11, 202699.87099.87099.879
Feb 10, 202699.86099.86099.870
Feb 9, 202699.84999.84999.859
Feb 6, 202699.82099.81999.849
Feb 5, 202699.80999.80899.820
Feb 4, 202699.79999.79899.808
Feb 3, 202699.78999.78899.798
Feb 2, 202699.77999.77899.789
Jan 30, 202699.74999.74899.779
Jan 29, 202699.73799.73799.747
Jan 28, 202699.72899.72899.737
Jan 27, 202699.71899.71899.728
Jan 26, 202699.70899.70899.718

Prices are per 100 of face, from Treasury's own end-of-day file. A dash in the bid or offer column means none was posted that day.

3 auctions

A CUSIP can be auctioned more than once: Treasury reopens an existing security rather than issuing a new one, so the same bond is sold again at whatever yield the market then wants.

Auction history for 912797SS7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Oct 22, 2025Oct 28, 2025New issue$69.0bn$69.2bn3.27x–
Dec 24, 2025Dec 30, 2025Reopening$80.0bn$80.3bn2.92x–
Jan 22, 2026Jan 27, 2026Reopening$105.0bn$105.3bn2.86x–

The curve this was priced against →

Index levels before September 30, 2026 are back-tested. They were computed after the fact by applying the rules to historical data, which benefits from hindsight in the choice of rules, and an index cannot be invested in directly. Methodology v1.0 takes effect at that rebalance, when levels begin to be struck on the day; the rulebook is identical either way, and the version is published on every row.

A fitted curve is a fit, not a quote. Daily error averages 3.8 basis points across the history and reaches about 20 on the worst days, in December 2008, when the market was genuinely hard to fit one smooth curve to. Every curve page publishes its own fit error rather than burying it.

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Curves are fitted from public Treasury data and carry fit error; figures are not a record of trading, and an index cannot be invested in directly. No claim of compliance with the IOSCO Principles for Financial Benchmarks is made or implied. Not investment advice, not an offer, and not a recommendation to buy or sell any security.