Treasury bond

912810RC4 · 3.625% due August 15, 2043

Original term
30-Year
Maturity
Aug 15, 2043
Coupon
3.625%
Pays
Semi-Annual
Dated
Aug 15, 2013
First coupon
Feb 15, 2014
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$41.90bn
Held stripped
$2.61bn
Share stripped
6.22%

Stripped par is held as separate interest and principal components rather than as whole securities. The Safe Rate indices deliberately do not deduct it, and the whole-market figure is published so that decision can be argued with. 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, September 10, 2026

Yield to maturity
5.370%
Modified duration
11.885 yr
DV01
0.0963
Convexity
179.364
Dirty price
81.016

Where its rate sensitivity sits

3M
6M
1Y
2Y
3Y
5Y
7Y
10Y
15Y
20Y
25Y
30Y
Sensitivity to a one basis point move at each point on the curve, in years. Concentrated in 10 of twelve buckets, summing to 12.113 years against a modified duration of 11.885.

Against the fitted curve

Priced 3.2 bp cheap to the curve on that day, 30.86 cents per 100 of face.

That is -0.44 standard deviations from its own typical residual.

Yield to maturity, 3,268 observations

1%2%3%4%5%6%Aug 15, 2013Sep 10, 2026Aug 15, 2013Yield to maturity3.806%Dec 4, 2013Yield to maturity3.905%Mar 25, 2014Yield to maturity3.582%Jul 11, 2014Yield to maturity3.327%Oct 29, 2014Yield to maturity3.050%Feb 20, 2015Yield to maturity2.708%Jun 8, 2015Yield to maturity3.108%Sep 23, 2015Yield to maturity2.911%Jan 13, 2016Yield to maturity2.767%May 2, 2016Yield to maturity2.626%Aug 17, 2016Yield to maturity2.184%Dec 6, 2016Yield to maturity3.033%Mar 27, 2017Yield to maturity2.964%Jul 13, 2017Yield to maturity2.879%Oct 30, 2017Yield to maturity2.843%Feb 16, 2018Yield to maturity3.114%Jun 6, 2018Yield to maturity3.119%Sep 21, 2018Yield to maturity3.204%Jan 14, 2019Yield to maturity3.048%May 2, 2019Yield to maturity2.902%Aug 19, 2019Yield to maturity2.026%Dec 6, 2019Yield to maturity2.262%Mar 26, 2020Yield to maturity1.390%Jul 14, 2020Yield to maturity1.203%Oct 29, 2020Yield to maturity1.441%Feb 19, 2021Yield to maturity1.992%Jun 7, 2021Yield to maturity2.169%Sep 22, 2021Yield to maturity1.774%Jan 11, 2022Yield to maturity2.123%Apr 29, 2022Yield to maturity3.178%Aug 17, 2022Yield to maturity3.430%Dec 6, 2022Yield to maturity3.827%Mar 27, 2023Yield to maturity3.934%Jul 13, 2023Yield to maturity4.110%Oct 30, 2023Yield to maturity5.257%Feb 16, 2024Yield to maturity4.617%Jun 4, 2024Yield to maturity4.602%Sep 20, 2024Yield to maturity4.138%Jan 10, 2025Yield to maturity5.065%Apr 29, 2025Yield to maturity4.666%Aug 15, 2025Yield to maturity4.905%Dec 4, 2025Yield to maturity4.710%Mar 25, 2026Yield to maturity4.885%Jul 13, 2026Yield to maturity5.093%Sep 10, 2026Yield to maturity5.370%

Price history

3,268 trading days to Sep 10, 2026

6080100120140160Aug 15, 2013Sep 10, 2026Aug 15, 2013Close96.781Dec 4, 2013Close95.094Mar 25, 2014Close100.781Jul 11, 2014Close105.531Oct 29, 2014Close110.969Feb 20, 2015Close118.125Jun 8, 2015Close109.656Sep 23, 2015Close113.563Jan 13, 2016Close116.469May 2, 2016Close119.375Aug 17, 2016Close129.281Dec 6, 2016Close110.781Mar 27, 2017Close112.031Jul 13, 2017Close113.625Oct 30, 2017Close114.219Feb 16, 2018Close108.938Jun 6, 2018Close108.781Sep 21, 2018Close107.188Jan 14, 2019Close109.938May 2, 2019Close112.531Aug 19, 2019Close130.250Dec 6, 2019Close124.875Mar 26, 2020Close144.500Jul 14, 2020Close148.688Oct 29, 2020Close142.313Feb 19, 2021Close129.469Jun 7, 2021Close125.531Sep 22, 2021Close133.469Jan 11, 2022Close125.906Apr 29, 2022Close106.875Aug 17, 2022Close102.906Dec 6, 2022Close97.125Mar 27, 2023Close95.688Jul 13, 2023Close93.406Oct 30, 2023Close80.063Feb 16, 2024Close87.344Jun 4, 2024Close87.625Sep 20, 2024Close93.313Jan 10, 2025Close82.781Apr 29, 2025Close87.281Aug 15, 2025Close84.813Dec 4, 2025Close87.063Mar 25, 2026Close85.344Jul 13, 2026Close83.375Sep 10, 2026Close80.750
The most recent 20 trading days of prices for 912810RC4.
DateBidOfferClose
Sep 10, 202681.21981.15680.750
Sep 9, 202681.68881.62581.906
Sep 8, 202682.29782.25082.125
Sep 4, 202682.32882.28182.219
Sep 3, 202682.43882.40682.219
Sep 2, 202681.96981.93881.969
Sep 1, 202682.26682.21981.969
Aug 31, 202682.17282.12582.250
Aug 28, 202682.89182.84482.531
Aug 27, 202683.04783.00082.844
Aug 26, 202683.01682.96982.938
Aug 25, 202683.09483.06383.125
Aug 24, 202682.70382.65682.531
Aug 21, 202682.20382.15682.063
Aug 20, 202682.37582.34482.531
Aug 19, 202682.79782.75082.906
Aug 18, 202681.81381.78181.906
Aug 17, 202681.92281.87581.625
Aug 14, 202682.10982.06382.125
Aug 13, 202682.60982.56382.594

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 912810RC4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 8, 2013Aug 15, 2013New issue$16.0bn$16.0bn2.11x3.652%
Sep 12, 2013Sep 16, 2013Reopening$13.0bn$13.0bn2.40x3.820%
Oct 10, 2013Oct 15, 2013Reopening$13.0bn$13.0bn2.64x3.758%

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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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.