bonds / 20Y / JGB (20-Year) No. 121
Bond Information
| Name | JGB (20-Year) No. 121 |
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| ISIN | — |
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| Issue # | 121 |
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| Coupon (%) | 1.9% semi-annual |
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| Issue Date | 2010-09-21 |
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| Maturity | 2030-09-20 （Remaining 4y） |
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| Outstanding | ¥2.7T （2026-03-31・MOF） |
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| Total issued | ¥2.5T （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 | ¥1.7B （2026-06-30） |
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| SLF usage | last 30d —／ total ¥5.5B（last 2025-12-25・BOJ） |
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| BOJ Holding | ¥1.8T（67.7%）（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 | 1.900 % |
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| Compound Yield | 1.8967 % |
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| Accrued Interest | 0.921370 (177 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 3.82 |
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| Macaulay Duration | 3.86 |
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| DV01 | — |
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| Convexity | 16.9 |
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Estimates based on the input price.
Cashflow Schedule
| Date | Type | Amount (per 100) |
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| 2026-09-20 | coupon | 0.950 |
| 2027-03-20 | coupon | 0.950 |
| 2027-09-20 | coupon | 0.950 |
| …（4 omitted）… |
| 2030-03-20 | coupon | 0.950 |
| 2030-09-20 | coupon + redemption | 100.950 |
Related Auctions
Horizon total return settle 2026-09-13 ・ CMT 2026-09-10
| CMT interpolated (rem 4.0y) | 2.126 % → ref. price 99.119 |
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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 | 1.585 | 101.143 | -0.484 | +1.54% | +6.16% |
| -25bp | 1.835 | 100.230 | -0.484 | +0.63% | +2.50% |
| Unchanged (roll-down) | 2.085 | 99.326 | -0.484 | -0.28% | -1.11% |
| +25bp | 2.335 | 98.432 | -0.484 | -1.17% | -4.69% |
| +50bp | 2.585 | 97.547 | -0.484 | -2.06% | -8.22% |
| 6m 2027-03-13 | -50bp | 1.543 | 101.215 | 0.934 | +3.03% | +6.06% |
| -25bp | 1.793 | 100.359 | 0.934 | +2.17% | +4.35% |
| Unchanged (roll-down) | 2.043 | 99.511 | 0.934 | +1.33% | +2.65% |
| +25bp | 2.293 | 98.671 | 0.934 | +0.49% | +0.97% |
| +50bp | 2.543 | 97.839 | 0.934 | -0.35% | -0.69% |
| 12m 2027-09-13 | -50bp | 1.457 | 101.291 | 1.900 | +4.07% | +4.07% |
| -25bp | 1.707 | 100.552 | 1.900 | +3.33% | +3.33% |
| Unchanged (roll-down) | 1.957 | 99.819 | 1.900 | +2.60% | +2.60% |
| +25bp | 2.207 | 99.093 | 1.900 | +1.87% | +1.87% |
| +50bp | 2.457 | 98.373 | 1.900 | +1.15% | +1.15% |