bonds / 20Y / JGB (20-Year) No. 191
Bond Information
| Name | JGB (20-Year) No. 191 |
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| ISIN | — |
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| Issue # | 191 |
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| Coupon (%) | 2% semi-annual |
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| Issue Date | 2025-01-17 |
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| Maturity | 2044-12-20 （Remaining 18.2y） |
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| Outstanding | ¥3.2T （2026-03-31・MOF） |
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| Total issued | ¥3.2T （annual report, FY-end） |
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| Statutory basis | 4条特例借換前倒 |
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| SLF usage | last 30d ¥5B／ total ¥24.1B（last 2026-10-15・BOJ） |
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| BOJ Holding | ¥188.5B（5.9%）（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 | 2.000 % |
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| Compound Yield | 1.9983 % |
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| Accrued Interest | 0.712329 (130 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 15.06 |
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| Macaulay Duration | 15.21 |
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| DV01 | — |
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| Convexity | 262.0 |
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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 | 1.000 |
| 2027-06-20 | coupon | 1.000 |
| 2027-12-20 | coupon | 1.000 |
| …（32 omitted）… |
| 2044-06-20 | coupon | 1.000 |
| 2044-12-20 | coupon + redemption | 101.000 |
Related Auctions
Horizon total return settle 2026-10-28 ・ CMT 2026-10-23
| CMT interpolated (rem 18.1y) | 3.544 % → ref. price 79.428 |
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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 | 3.030 | 85.818 | -0.499 | +7.35% | +29.41% |
| -25bp | 3.280 | 82.742 | -0.499 | +3.51% | +14.05% |
| Unchanged (roll-down) | 3.530 | 79.794 | -0.499 | -0.17% | -0.66% |
| +25bp | 3.780 | 76.967 | -0.499 | -3.69% | -14.77% |
| +50bp | 4.030 | 74.257 | -0.499 | -7.07% | -28.30% |
| 6m 2027-04-28 | -50bp | 3.017 | 86.133 | 0.995 | +9.61% | +19.22% |
| -25bp | 3.267 | 83.077 | 0.995 | +5.80% | +11.59% |
| Unchanged (roll-down) | 3.517 | 80.148 | 0.995 | +2.14% | +4.28% |
| +25bp | 3.767 | 77.337 | 0.995 | -1.37% | -2.73% |
| +50bp | 4.017 | 74.642 | 0.995 | -4.73% | -9.46% |
| 12m 2027-10-28 | -50bp | 2.990 | 86.765 | 2.000 | +11.65% | +11.65% |
| -25bp | 3.240 | 83.754 | 2.000 | +7.89% | +7.89% |
| Unchanged (roll-down) | 3.490 | 80.864 | 2.000 | +4.29% | +4.29% |
| +25bp | 3.740 | 78.089 | 2.000 | +0.82% | +0.82% |
| +50bp | 3.990 | 75.424 | 2.000 | -2.50% | -2.50% |