bonds / 20Y / JGB (20-Year) No. 120
Bond Information
| Name | JGB (20-Year) No. 120 |
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| ISIN | — |
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| Issue # | 120 |
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| Coupon (%) | 1.6% semi-annual |
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| Issue Date | 2010-08-27 |
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| Maturity | 2030-06-20 （Remaining 3.8y） |
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| Outstanding | ¥2T （2026-03-31・MOF） |
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| Total issued | ¥1.8T （annual report, FY-end） |
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| Statutory basis | 特例借換前倒財投 |
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| STRIPS principal | ¥100M （2026-06-30） |
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| BOJ Holding | ¥1.1T（55.8%）（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 | 1.600 % |
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| Compound Yield | 1.5986 % |
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| Accrued Interest | 0.372603 (85 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 3.63 |
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| Macaulay Duration | 3.66 |
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| DV01 | — |
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| Convexity | 15.2 |
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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 | 0.800 |
| 2027-06-20 | coupon | 0.800 |
| 2027-12-20 | coupon | 0.800 |
| …（3 omitted）… |
| 2029-12-20 | coupon | 0.800 |
| 2030-06-20 | coupon + redemption | 100.800 |
Related Auctions
| Auction Date | | Bid/Cover | Tail (sen) | Avg Yield (%) |
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| 2010-08-24 | new | 2.86 | 8 | 1.548 |
Horizon total return settle 2026-09-13 ・ CMT 2026-09-10
| CMT interpolated (rem 3.8y) | 2.084 % → ref. price 98.247 |
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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 | 1.542 | 100.193 | 0.399 | +2.38% | +9.51% |
| -25bp | 1.792 | 99.343 | 0.399 | +1.52% | +6.06% |
| Unchanged (roll-down) | 2.042 | 98.501 | 0.399 | +0.66% | +2.65% |
| +25bp | 2.292 | 97.668 | 0.399 | -0.18% | -0.73% |
| +50bp | 2.542 | 96.842 | 0.399 | -1.02% | -4.08% |
| 6m 2027-03-13 | -50bp | 1.500 | 100.315 | 0.791 | +2.90% | +5.80% |
| -25bp | 1.750 | 99.521 | 0.791 | +2.09% | +4.19% |
| Unchanged (roll-down) | 2.000 | 98.735 | 0.791 | +1.30% | +2.59% |
| +25bp | 2.250 | 97.956 | 0.791 | +0.51% | +1.01% |
| +50bp | 2.500 | 97.184 | 0.791 | -0.28% | -0.55% |
| 12m 2027-09-13 | -50bp | 1.423 | 100.473 | 1.600 | +3.88% | +3.88% |
| -25bp | 1.673 | 99.797 | 1.600 | +3.19% | +3.19% |
| Unchanged (roll-down) | 1.923 | 99.126 | 1.600 | +2.51% | +2.51% |
| +25bp | 2.173 | 98.461 | 1.600 | +1.84% | +1.84% |
| +50bp | 2.423 | 97.801 | 1.600 | +1.17% | +1.17% |