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 3.9y） |
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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 （2026-09-30） |
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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 2026-10-20・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 | 1.8985 % |
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| Accrued Interest | 0.197808 (38 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 3.73 |
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| Macaulay Duration | 3.77 |
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| DV01 | — |
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| Convexity | 16.1 |
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Estimates based on the input price.
Cashflow Schedule
| Date | Type | Amount (per 100) |
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| 2027-03-20 | coupon | 0.950 |
| 2027-09-20 | coupon | 0.950 |
| 2028-03-20 | coupon | 0.950 |
| …（3 omitted）… |
| 2030-03-20 | coupon | 0.950 |
| 2030-09-20 | coupon + redemption | 100.950 |
Related Auctions
Horizon total return settle 2026-10-28 ・ CMT 2026-10-23
| CMT interpolated (rem 3.9y) | 2.106 % → ref. price 99.226 |
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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 2027-01-28 | -50bp | 1.570 | 101.158 | 0.479 | +2.42% | +9.70% |
| -25bp | 1.820 | 100.274 | 0.479 | +1.54% | +6.14% |
| Unchanged (roll-down) | 2.070 | 99.399 | 0.479 | +0.65% | +2.62% |
| +25bp | 2.320 | 98.532 | 0.479 | -0.22% | -0.87% |
| +50bp | 2.570 | 97.675 | 0.479 | -1.08% | -4.32% |
| 6m 2027-04-28 | -50bp | 1.535 | 101.190 | 0.955 | +2.94% | +5.87% |
| -25bp | 1.785 | 100.363 | 0.955 | +2.10% | +4.21% |
| Unchanged (roll-down) | 2.035 | 99.544 | 0.955 | +1.28% | +2.56% |
| +25bp | 2.285 | 98.733 | 0.955 | +0.46% | +0.93% |
| +50bp | 2.535 | 97.929 | 0.955 | -0.34% | -0.69% |
| 12m 2027-10-28 | -50bp | 1.468 | 101.217 | 1.900 | +3.91% | +3.91% |
| -25bp | 1.718 | 100.507 | 1.900 | +3.20% | +3.20% |
| Unchanged (roll-down) | 1.968 | 99.804 | 1.900 | +2.49% | +2.49% |
| +25bp | 2.218 | 99.107 | 1.900 | +1.79% | +1.79% |
| +50bp | 2.468 | 98.415 | 1.900 | +1.10% | +1.10% |