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 18.3y） |
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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 —／ total ¥19.1B（last 2026-07-15・BOJ） |
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| BOJ Holding | ¥188.5B（5.9%）（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 | 2.000 % |
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| Compound Yield | 1.9983 % |
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| Accrued Interest | 0.465753 (85 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 15.18 |
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| Macaulay Duration | 15.33 |
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| DV01 | — |
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| Convexity | 265.7 |
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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 2026-09-13 ・ CMT 2026-09-10
| CMT interpolated (rem 18.3y) | 3.653 % → ref. price 78.067 |
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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 | 3.139 | 84.386 | 0.499 | +8.68% | +34.73% |
| -25bp | 3.389 | 81.353 | 0.499 | +4.82% | +19.27% |
| Unchanged (roll-down) | 3.639 | 78.446 | 0.499 | +1.12% | +4.47% |
| +25bp | 3.889 | 75.659 | 0.499 | -2.43% | -9.72% |
| +50bp | 4.139 | 72.989 | 0.499 | -5.83% | -23.33% |
| 6m 2027-03-13 | -50bp | 3.124 | 84.723 | 0.989 | +9.73% | +19.47% |
| -25bp | 3.374 | 81.709 | 0.989 | +5.90% | +11.79% |
| Unchanged (roll-down) | 3.624 | 78.818 | 0.989 | +2.22% | +4.43% |
| +25bp | 3.874 | 76.047 | 0.989 | -1.31% | -2.63% |
| +50bp | 4.124 | 73.389 | 0.989 | -4.70% | -9.39% |
| 12m 2027-09-13 | -50bp | 3.095 | 85.402 | 2.000 | +11.89% | +11.89% |
| -25bp | 3.345 | 82.429 | 2.000 | +8.10% | +8.10% |
| Unchanged (roll-down) | 3.595 | 79.575 | 2.000 | +4.47% | +4.47% |
| +25bp | 3.845 | 76.835 | 2.000 | +0.98% | +0.98% |
| +50bp | 4.095 | 74.206 | 2.000 | -2.37% | -2.37% |