Treasury bill

912797VS3

Original term
26-Week
Maturity
Jan 7, 2027
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Oct 20, 2026
Analyzed through
Oct 20, 2026

Statement of September 30, 2026

Amount outstanding
$83.18bn
Held stripped
not strippable
Share stripped
–

This security cannot be stripped, so no stripped figure exists for it rather than one that is zero. Stripping separates a coupon security into its individual interest and principal payments, which needs more than one cashflow to separate. Market statistics.

Amount outstanding as reported by Treasury, in its Monthly Statement of the Public Debt. The Safe Rate indices weight on a different figure, float-adjusted original par, and the two are not comparable security by security. The index figures are published per holding.

Risk, October 20, 2026

Yield to maturity
4.153%
Modified duration
0.212 yr
DV01
0.0021
Convexity
0.000897
Dirty price
99.120

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 0.212 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 0.9 bp cheap to the curve on that day, 0.19 cents per 100 of face.

That is -0.13 standard deviations from its own typical residual.

Yield to maturity, 72 observations

3.8%3.9%4.0%4.1%4.2%4.3%Jul 9, 2026Oct 20, 2026Jul 9, 2026Yield to maturity3.917%Jul 10, 2026Yield to maturity3.958%Jul 13, 2026Yield to maturity3.979%Jul 14, 2026Yield to maturity3.915%Jul 15, 2026Yield to maturity3.873%Jul 16, 2026Yield to maturity3.883%Jul 17, 2026Yield to maturity3.903%Jul 20, 2026Yield to maturity3.934%Jul 21, 2026Yield to maturity3.954%Jul 22, 2026Yield to maturity3.975%Jul 23, 2026Yield to maturity4.006%Jul 24, 2026Yield to maturity4.015%Jul 27, 2026Yield to maturity4.004%Jul 28, 2026Yield to maturity3.972%Jul 29, 2026Yield to maturity3.898%Jul 30, 2026Yield to maturity3.887%Jul 31, 2026Yield to maturity3.897%Aug 3, 2026Yield to maturity3.907%Aug 4, 2026Yield to maturity3.896%Aug 5, 2026Yield to maturity3.895%Aug 6, 2026Yield to maturity3.906%Aug 7, 2026Yield to maturity3.873%Aug 10, 2026Yield to maturity3.904%Aug 11, 2026Yield to maturity3.893%Aug 12, 2026Yield to maturity3.861%Aug 13, 2026Yield to maturity3.850%Aug 14, 2026Yield to maturity3.839%Aug 17, 2026Yield to maturity3.849%Aug 18, 2026Yield to maturity3.848%Aug 19, 2026Yield to maturity3.848%Aug 20, 2026Yield to maturity3.848%Aug 21, 2026Yield to maturity3.836%Aug 24, 2026Yield to maturity3.856%Aug 25, 2026Yield to maturity3.845%Aug 26, 2026Yield to maturity3.835%Aug 27, 2026Yield to maturity3.834%Aug 28, 2026Yield to maturity3.896%Aug 31, 2026Yield to maturity3.906%Sep 1, 2026Yield to maturity3.916%Sep 2, 2026Yield to maturity3.926%Sep 3, 2026Yield to maturity3.894%Sep 4, 2026Yield to maturity3.913%Sep 8, 2026Yield to maturity3.923%Sep 9, 2026Yield to maturity3.954%Sep 10, 2026Yield to maturity4.005%Sep 11, 2026Yield to maturity4.056%Sep 14, 2026Yield to maturity4.076%Sep 15, 2026Yield to maturity4.086%Sep 16, 2026Yield to maturity4.127%Sep 17, 2026Yield to maturity4.085%Sep 18, 2026Yield to maturity4.115%Sep 21, 2026Yield to maturity4.146%Sep 22, 2026Yield to maturity4.145%Sep 23, 2026Yield to maturity4.197%Sep 24, 2026Yield to maturity4.207%Sep 25, 2026Yield to maturity4.216%Sep 28, 2026Yield to maturity4.215%Sep 29, 2026Yield to maturity4.173%Sep 30, 2026Yield to maturity4.142%Oct 1, 2026Yield to maturity4.110%Oct 2, 2026Yield to maturity4.119%Oct 5, 2026Yield to maturity4.139%Oct 6, 2026Yield to maturity4.139%Oct 7, 2026Yield to maturity4.138%Oct 8, 2026Yield to maturity4.148%Oct 9, 2026Yield to maturity4.157%Oct 13, 2026Yield to maturity4.156%Oct 14, 2026Yield to maturity4.187%Oct 15, 2026Yield to maturity4.176%Oct 16, 2026Yield to maturity4.164%Oct 19, 2026Yield to maturity4.153%Oct 20, 2026Yield to maturity4.153%

Price history

72 trading days to Oct 20, 2026

98.098.298.498.698.899.099.2Jul 9, 2026Oct 20, 2026Jul 9, 2026Close98.094Jul 10, 2026Close98.106Jul 13, 2026Close98.107Jul 14, 2026Close98.147Jul 15, 2026Close98.177Jul 16, 2026Close98.183Jul 17, 2026Close98.204Jul 20, 2026Close98.201Jul 21, 2026Close98.202Jul 22, 2026Close98.203Jul 23, 2026Close98.200Jul 24, 2026Close98.228Jul 27, 2026Close98.243Jul 28, 2026Close98.267Jul 29, 2026Close98.309Jul 30, 2026Close98.324Jul 31, 2026Close98.352Aug 3, 2026Close98.358Aug 4, 2026Close98.373Aug 5, 2026Close98.383Aug 6, 2026Close98.389Aug 7, 2026Close98.433Aug 10, 2026Close98.431Aug 11, 2026Close98.446Aug 12, 2026Close98.469Aug 13, 2026Close98.483Aug 14, 2026Close98.518Aug 17, 2026Close98.525Aug 18, 2026Close98.535Aug 19, 2026Close98.546Aug 20, 2026Close98.556Aug 21, 2026Close98.591Aug 24, 2026Close98.594Aug 25, 2026Close98.608Aug 26, 2026Close98.622Aug 27, 2026Close98.632Aug 28, 2026Close98.642Aug 31, 2026Close98.649Sep 1, 2026Close98.656Sep 2, 2026Close98.663Sep 3, 2026Close98.684Sep 4, 2026Close98.719Sep 8, 2026Close98.727Sep 9, 2026Close98.727Sep 10, 2026Close98.722Sep 11, 2026Close98.738Sep 14, 2026Close98.743Sep 15, 2026Close98.751Sep 16, 2026Close98.749Sep 17, 2026Close98.773Sep 18, 2026Close98.797Sep 21, 2026Close98.799Sep 22, 2026Close98.810Sep 23, 2026Close98.807Sep 24, 2026Close98.816Sep 25, 2026Close98.847Sep 28, 2026Close98.858Sep 29, 2026Close98.881Sep 30, 2026Close98.900Oct 1, 2026Close98.920Oct 2, 2026Close98.950Oct 5, 2026Close98.956Oct 6, 2026Close98.968Oct 7, 2026Close98.979Oct 8, 2026Close98.987Oct 9, 2026Close99.030Oct 13, 2026Close99.041Oct 14, 2026Close99.046Oct 15, 2026Close99.059Oct 16, 2026Close99.096Oct 19, 2026Close99.109Oct 20, 2026Close99.120
The most recent 20 trading days of prices for 912797VS3.
DateBidOfferClose
Oct 20, 202699.11099.10999.120
Oct 19, 202699.09699.09399.109
Oct 16, 202699.06599.06499.096
Oct 15, 202699.04999.04899.059
Oct 14, 202699.03299.03099.046
Oct 13, 202699.02999.02899.041
Oct 9, 202698.98498.98399.030
Oct 8, 202698.97598.97498.987
Oct 7, 202698.96698.96598.979
Oct 6, 202698.96098.95998.968
Oct 5, 202698.95098.94898.956
Oct 2, 202698.92598.92298.950
Oct 1, 202698.91098.90898.920
Sep 30, 202698.89298.88998.900
Sep 29, 202698.86298.86198.881
Sep 28, 202698.84798.84498.858
Sep 25, 202698.81698.81398.847
Sep 24, 202698.80998.80498.816
Sep 23, 202698.80898.80598.807
Sep 22, 202698.80298.79998.810

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.

2 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 912797VS3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jul 6, 2026Jul 9, 2026New issue$79.0bn$83.2bn3.05x–
Oct 5, 2026Oct 8, 2026Reopening$95.0bn$102.2bn2.51x–

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.

Free to benchmark against. Paid only to track. Measuring anything against these curves and indices is free. No license, no fee, no registration, and no permission needed to say that you did, including in a prospectus. A fee applies to one thing: launching a product that tracks an index.

Safe Rate™, Safe Rate Indices™ and the Safe Rate US Treasury Index™ are trademarks of Safe Rate, claimed through use in commerce and not registered. Third-party marks are the property of their owners, which are not affiliated with and do not endorse this data.

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.