Treasury note

91282CKP5 · 4.625% due April 30, 2029

Original term
5-Year
Maturity
Apr 30, 2029
Coupon
4.625%
Pays
Semi-Annual
Dated
Apr 30, 2024
First coupon
Oct 31, 2024
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$70.23bn
Held stripped
$123.2m
Share stripped
0.18%

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
4.636%
Modified duration
2.415 yr
DV01
0.0246
Convexity
7.279
Dirty price
101.653

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 5 of twelve buckets, summing to 2.468 years against a modified duration of 2.415.

Against the fitted curve

Priced 1.0 bp rich to the curve on that day, 2.41 cents per 100 of face.

That is -0.66 standard deviations from its own typical residual.

Yield to maturity, 592 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%Apr 30, 2024Sep 10, 2026Apr 30, 2024Yield to maturity4.724%May 20, 2024Yield to maturity4.461%Jun 10, 2024Yield to maturity4.494%Jul 1, 2024Yield to maturity4.449%Jul 22, 2024Yield to maturity4.179%Aug 9, 2024Yield to maturity3.813%Aug 29, 2024Yield to maturity3.705%Sep 19, 2024Yield to maturity3.500%Oct 9, 2024Yield to maturity3.914%Oct 30, 2024Yield to maturity4.149%Nov 20, 2024Yield to maturity4.289%Dec 11, 2024Yield to maturity4.152%Jan 2, 2025Yield to maturity4.367%Jan 23, 2025Yield to maturity4.437%Feb 12, 2025Yield to maturity4.467%Mar 5, 2025Yield to maturity4.062%Mar 25, 2025Yield to maturity4.048%Apr 14, 2025Yield to maturity3.974%May 2, 2025Yield to maturity3.874%May 22, 2025Yield to maturity4.052%Jun 12, 2025Yield to maturity3.923%Jul 3, 2025Yield to maturity3.894%Jul 24, 2025Yield to maturity3.921%Aug 13, 2025Yield to maturity3.706%Sep 3, 2025Yield to maturity3.620%Sep 23, 2025Yield to maturity3.607%Oct 14, 2025Yield to maturity3.518%Nov 3, 2025Yield to maturity3.644%Nov 24, 2025Yield to maturity3.523%Dec 15, 2025Yield to maturity3.602%Jan 6, 2026Yield to maturity3.564%Jan 27, 2026Yield to maturity3.668%Feb 17, 2026Yield to maturity3.488%Mar 9, 2026Yield to maturity3.594%Mar 27, 2026Yield to maturity3.961%Apr 16, 2026Yield to maturity3.800%May 6, 2026Yield to maturity3.896%May 27, 2026Yield to maturity4.097%Jun 16, 2026Yield to maturity4.087%Jul 8, 2026Yield to maturity4.242%Jul 28, 2026Yield to maturity4.307%Aug 17, 2026Yield to maturity4.239%Sep 4, 2026Yield to maturity4.433%Sep 10, 2026Yield to maturity4.636%

Price history

592 trading days to Sep 10, 2026

99100101102103104105106Apr 30, 2024Sep 10, 2026Apr 30, 2024Close99.563May 20, 2024Close100.719Jun 10, 2024Close100.563Jul 1, 2024Close100.750Jul 22, 2024Close101.906Aug 9, 2024Close103.469Aug 29, 2024Close103.906Sep 19, 2024Close104.750Oct 9, 2024Close102.938Oct 30, 2024Close101.938Nov 20, 2024Close101.344Dec 11, 2024Close101.875Jan 2, 2025Close101.000Jan 23, 2025Close100.719Feb 12, 2025Close100.594Mar 5, 2025Close102.125Mar 25, 2025Close102.156Apr 14, 2025Close102.406May 2, 2025Close102.750May 22, 2025Close102.063Jun 12, 2025Close102.500Jul 3, 2025Close102.563Jul 24, 2025Close102.438Aug 13, 2025Close103.156Sep 3, 2025Close103.406Sep 23, 2025Close103.406Oct 14, 2025Close103.656Nov 3, 2025Close103.188Nov 24, 2025Close103.531Dec 15, 2025Close103.219Jan 6, 2026Close103.281Jan 27, 2026Close102.906Feb 17, 2026Close103.406Mar 9, 2026Close103.031Mar 27, 2026Close101.906Apr 16, 2026Close102.344May 6, 2026Close102.031May 27, 2026Close101.438Jun 16, 2026Close101.438Jul 8, 2026Close101.000Jul 28, 2026Close100.813Aug 17, 2026Close100.969Sep 4, 2026Close100.469Sep 10, 2026Close99.969
The most recent 20 trading days of prices for 91282CKP5.
DateBidOfferClose
Sep 10, 2026100.078100.06399.969
Sep 9, 2026100.344100.313100.313
Sep 8, 2026100.453100.438100.406
Sep 4, 2026100.516100.500100.469
Sep 3, 2026100.609100.594100.563
Sep 2, 2026100.453100.438100.469
Sep 1, 2026100.516100.500100.438
Aug 31, 2026100.594100.563100.563
Aug 28, 2026100.641100.625100.563
Aug 27, 2026100.906100.875100.844
Aug 26, 2026100.922100.906100.875
Aug 25, 2026100.953100.938100.938
Aug 24, 2026100.859100.844100.813
Aug 21, 2026100.828100.813100.813
Aug 20, 2026100.953100.938100.938
Aug 19, 2026100.953100.938100.969
Aug 18, 2026100.984100.969100.969
Aug 17, 2026101.016101.000100.969
Aug 14, 2026101.047101.031101.000
Aug 13, 2026101.078101.063101.063

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.

Auction

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 91282CKP5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Apr 24, 2024Apr 30, 2024New issue$70.0bn$70.3bn2.39x4.659%

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.