Official Result (MOF)
| Auction Date | 1997-10-08 |
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| Issue Date | 1997-10-20 |
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| Issue | JGB (20-Year) No. 38（new） |
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| Coupon (%) | 2.7% |
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| Maturity | 2018-03-20 |
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| Method | price conventional |
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| Offering | ¥400B |
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| Competitive Bids | ¥1.7T |
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| Accepted Amount | ¥398.9B |
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| Lowest Accepted Price | 100.10（2.692%） |
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| Weighted Avg Price | 100.14（2.689%） |
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| Allotment Ratio | — |
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| Non-competitive I | — |
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| Non-competitive II | — |
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Source: https://www.mof.go.jp/jgbs/reference/appendix/jgb_historical_data.xls
Derived Metrics calc auction-v1 / auction-v2
| This | Prev | avg (12) | min | max | z |
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| Bid/Cover | 4.32 | 2.46 | 3.04 | 2.28 | 4.56 | +1.99 |
| Tail (sen) | 4 | 7 | 9 | 3 | 23 | -1.01 |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | A (score +1.50) | (z(B/C) − z(tail))/2 bucketed A(≥1)/B(≥0.3)/C/D(≤−0.3)/E(≤−1), vs last 12 same-tenor |
| Yield tail (bp) | 0.3 | 0.6 |
Same-tenor Auction History