Treasury bill

912797WN3

Original term
17-Week
Maturity
Jan 5, 2027
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$76.31bn
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, November 9, 2026

Yield to maturity
4.081%
Modified duration
0.152 yr
DV01
0.0015
Convexity
0.000465
Dirty price
99.378

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 0.152 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 2.5 bp cheap to the curve on that day, 0.37 cents per 100 of face.

That is 0.83 standard deviations from its own typical residual.

Yield to maturity, 44 observations

3.95%4.00%4.05%4.10%4.15%4.20%4.25%Sep 8, 2026Nov 9, 2026Sep 8, 2026Yield to maturity3.953%Sep 9, 2026Yield to maturity3.974%Sep 10, 2026Yield to maturity4.025%Sep 11, 2026Yield to maturity4.076%Sep 14, 2026Yield to maturity4.096%Sep 15, 2026Yield to maturity4.106%Sep 16, 2026Yield to maturity4.137%Sep 17, 2026Yield to maturity4.116%Sep 18, 2026Yield to maturity4.125%Sep 21, 2026Yield to maturity4.145%Sep 22, 2026Yield to maturity4.144%Sep 23, 2026Yield to maturity4.186%Sep 24, 2026Yield to maturity4.206%Sep 25, 2026Yield to maturity4.215%Sep 28, 2026Yield to maturity4.214%Sep 29, 2026Yield to maturity4.172%Sep 30, 2026Yield to maturity4.151%Oct 1, 2026Yield to maturity4.109%Oct 2, 2026Yield to maturity4.108%Oct 5, 2026Yield to maturity4.128%Oct 6, 2026Yield to maturity4.117%Oct 7, 2026Yield to maturity4.127%Oct 8, 2026Yield to maturity4.127%Oct 9, 2026Yield to maturity4.145%Oct 13, 2026Yield to maturity4.145%Oct 14, 2026Yield to maturity4.175%Oct 15, 2026Yield to maturity4.165%Oct 16, 2026Yield to maturity4.143%Oct 19, 2026Yield to maturity4.142%Oct 20, 2026Yield to maturity4.142%Oct 21, 2026Yield to maturity4.131%Oct 22, 2026Yield to maturity4.110%Oct 23, 2026Yield to maturity4.119%Oct 26, 2026Yield to maturity4.118%Oct 27, 2026Yield to maturity4.107%Oct 28, 2026Yield to maturity4.097%Oct 29, 2026Yield to maturity4.086%Oct 30, 2026Yield to maturity4.085%Nov 2, 2026Yield to maturity4.084%Nov 3, 2026Yield to maturity4.073%Nov 4, 2026Yield to maturity4.063%Nov 5, 2026Yield to maturity4.062%Nov 6, 2026Yield to maturity4.061%Nov 9, 2026Yield to maturity4.081%

Price history

44 trading days to Nov 9, 2026

98.798.898.999.099.199.299.399.4Sep 8, 2026Nov 9, 2026Sep 8, 2026Close98.738Sep 9, 2026Close98.742Sep 10, 2026Close98.737Sep 11, 2026Close98.754Sep 14, 2026Close98.759Sep 15, 2026Close98.767Sep 16, 2026Close98.769Sep 17, 2026Close98.786Sep 18, 2026Close98.816Sep 21, 2026Close98.822Sep 22, 2026Close98.833Sep 23, 2026Close98.833Sep 24, 2026Close98.838Sep 25, 2026Close98.870Sep 28, 2026Close98.881Sep 29, 2026Close98.903Sep 30, 2026Close98.920Oct 1, 2026Close98.942Oct 2, 2026Close98.975Oct 5, 2026Close98.981Oct 6, 2026Close98.995Oct 7, 2026Close99.004Oct 8, 2026Close99.015Oct 9, 2026Close99.055Oct 13, 2026Close99.066Oct 14, 2026Close99.071Oct 15, 2026Close99.084Oct 16, 2026Close99.123Oct 19, 2026Close99.134Oct 20, 2026Close99.145Oct 21, 2026Close99.158Oct 22, 2026Close99.174Oct 23, 2026Close99.205Oct 26, 2026Close99.216Oct 27, 2026Close99.230Oct 28, 2026Close99.243Oct 29, 2026Close99.256Oct 30, 2026Close99.289Nov 2, 2026Close99.300Nov 3, 2026Close99.313Nov 4, 2026Close99.326Nov 5, 2026Close99.337Nov 6, 2026Close99.370Nov 9, 2026Close99.378
The most recent 20 trading days of prices for 912797WN3.
DateBidOfferClose
Nov 9, 202699.37099.37199.378
Nov 6, 202699.33799.33899.370
Nov 5, 202699.32699.32899.337
Nov 4, 202699.31399.31599.326
Nov 3, 202699.30099.30299.313
Nov 2, 202699.28799.28999.300
Oct 30, 202699.25699.25799.289
Oct 29, 202699.24399.24499.256
Oct 28, 202699.22899.23099.243
Oct 27, 202699.21899.21999.230
Oct 26, 202699.20599.20799.216
Oct 23, 202699.17299.17399.205
Oct 22, 202699.16299.16599.174
Oct 21, 202699.14799.14999.158
Oct 20, 202699.13499.13699.145
Oct 19, 202699.12599.12699.134
Oct 16, 202699.08999.09199.123
Oct 15, 202699.07399.07599.084
Oct 14, 202699.05799.05899.071
Oct 13, 202699.05599.05799.066

Prices are per 100 of face, from Treasury's own end-of-day file. A dash means that side was not quoted that day, which is almost always the offer and almost always near maturity: a holder of a bill days from paying par has little reason to sell it.

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 912797WN3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Sep 2, 2026Sep 8, 2026New issue$72.0bn$76.3bn2.78x–
Nov 5, 2026Nov 10, 2026Reopening$110.0bn$117.9bn2.68x–

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.