bonds / 20Y / JGB (20-Year) No. 111
Bond Information
| Name | JGB (20-Year) No. 111 |
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| ISIN | — |
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| Issue # | 111 |
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| Coupon (%) | 2.2% semi-annual |
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| Issue Date | 2009-06-22 |
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| Maturity | 2029-06-20 （Remaining 2.8y） |
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| Outstanding | ¥1.5T （2026-03-31・MOF） |
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| Total issued | ¥1.6T （annual report, FY-end） |
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| Statutory basis | 4条特例借換前倒財投 |
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| STRIPS principal | ¥300M （2026-06-30） |
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| SLF usage | last 30d —／ total ¥9.3B（last 2026-01-14・BOJ） |
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| BOJ Holding | ¥701B（46.0%）（as of 2026-08-31・Source: BOJ・Ratios approximate due to differing as-of dates） |
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| Status | active |
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Results
Yield Calculator (price input) | Simple Yield | 2.200 % |
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| Compound Yield | 2.1972 % |
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| Accrued Interest | 0.512329 (85 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 2.66 |
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| Macaulay Duration | 2.69 |
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| DV01 | — |
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| Convexity | 8.5 |
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Estimates based on the input price.
Cashflow Schedule
| Date | Type | Amount (per 100) |
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| 2026-12-20 | coupon | 1.100 |
| 2027-06-20 | coupon | 1.100 |
| 2027-12-20 | coupon | 1.100 |
| …（1 omitted）… |
| 2028-12-20 | coupon | 1.100 |
| 2029-06-20 | coupon + redemption | 101.100 |
Related Auctions
| Auction Date | | Bid/Cover | Tail (sen) | Avg Yield (%) |
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| 2009-06-17 | new | 3.60 | 8 | 2.123 |
Horizon total return settle 2026-09-13 ・ CMT 2026-09-10
| CMT interpolated (rem 2.8y) | 1.924 % → ref. price 100.735 |
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| G-spread (vs interpolated CMT) | — |
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| Horizon | Scenario | Yield@H | Price@H | Carry | Total return | Ann. |
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| 3m 2026-12-13 | -50bp | 1.391 | 101.991 | 0.548 | +1.78% | +7.13% |
| -25bp | 1.641 | 101.369 | 0.548 | +1.17% | +4.67% |
| Unchanged (roll-down) | 1.891 | 100.751 | 0.548 | +0.56% | +2.23% |
| +25bp | 2.141 | 100.138 | 0.548 | -0.05% | -0.19% |
| +50bp | 2.391 | 99.529 | 0.548 | -0.65% | -2.60% |
| 6m 2027-03-13 | -50bp | 1.359 | 101.874 | 1.088 | +2.20% | +4.40% |
| -25bp | 1.609 | 101.311 | 1.088 | +1.64% | +3.29% |
| Unchanged (roll-down) | 1.859 | 100.752 | 1.088 | +1.09% | +2.18% |
| +25bp | 2.109 | 100.197 | 1.088 | +0.54% | +1.09% |
| +50bp | 2.359 | 99.646 | 1.088 | -0.00% | -0.00% |
| 12m 2027-09-13 | -50bp | 1.260 | 101.633 | 2.200 | +3.06% | +3.06% |
| -25bp | 1.510 | 101.194 | 2.200 | +2.63% | +2.63% |
| Unchanged (roll-down) | 1.760 | 100.756 | 2.200 | +2.19% | +2.19% |
| +25bp | 2.010 | 100.321 | 2.200 | +1.76% | +1.76% |
| +50bp | 2.260 | 99.889 | 2.200 | +1.34% | +1.34% |