bonds / 20Y / JGB (20-Year) No. 111
Bond Information
| Name | JGB (20-Year) No. 111 |
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| ISIN | — |
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| Issue # | 111 |
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| Coupon (%) | 2.2% semi-annual |
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| Issue Date | 2009-06-22 |
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| Maturity | 2029-06-20 （Remaining 2.8y） |
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| Outstanding | ¥1.5T （2026-03-31・MOF） |
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| Total issued | ¥1.6T （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 | ¥300M （2026-06-30） |
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| SLF usage | last 30d —／ total ¥9.3B（last 2026-01-14・BOJ） |
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| BOJ Holding | ¥701B（46.0%）（as of 2026-08-10・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 | 2.200 % |
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| Compound Yield | 2.1973 % |
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| Accrued Interest | 0.385753 (64 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 2.72 |
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| Macaulay Duration | 2.75 |
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| DV01 | — |
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| Convexity | 8.9 |
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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 | 1.100 |
| 2027-06-20 | coupon | 1.100 |
| 2027-12-20 | coupon | 1.100 |
| …（1 omitted）… |
| 2028-12-20 | coupon | 1.100 |
| 2029-06-20 | coupon + redemption | 101.100 |
Related Auctions
| Auction Date | | Bid/Cover | Tail (sen) | Avg Yield (%) |
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| 2009-06-17 | new | 3.60 | 8 | 2.123 |
Horizon total return settle 2026-08-23 ・ CMT 2026-08-20
| CMT interpolated (rem 2.8y) | 1.791 % → ref. price 101.116 |
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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 2026-11-23 | -50bp | 1.258 | 102.374 | 0.555 | +1.79% | +7.14% |
| -25bp | 1.508 | 101.736 | 0.555 | +1.16% | +4.63% |
| Unchanged (roll-down) | 1.758 | 101.102 | 0.555 | +0.53% | +2.13% |
| +25bp | 2.008 | 100.474 | 0.555 | -0.09% | -0.35% |
| +50bp | 2.258 | 99.850 | 0.555 | -0.70% | -2.80% |
| 6m 2027-02-23 | -50bp | 1.224 | 102.224 | 1.106 | +2.18% | +4.36% |
| -25bp | 1.474 | 101.647 | 1.106 | +1.61% | +3.23% |
| Unchanged (roll-down) | 1.724 | 101.074 | 1.106 | +1.05% | +2.10% |
| +25bp | 1.974 | 100.506 | 1.106 | +0.49% | +0.98% |
| +50bp | 2.224 | 99.941 | 1.106 | -0.07% | -0.14% |
| 12m 2027-08-23 | -50bp | 1.138 | 101.908 | 2.200 | +2.95% | +2.95% |
| -25bp | 1.388 | 101.453 | 2.200 | +2.50% | +2.50% |
| Unchanged (roll-down) | 1.638 | 101.000 | 2.200 | +2.05% | +2.05% |
| +25bp | 1.888 | 100.550 | 2.200 | +1.61% | +1.61% |
| +50bp | 2.138 | 100.103 | 2.200 | +1.17% | +1.17% |