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 4.1y） |
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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 （2026-06-30） |
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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 2026-08-10・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 | 1.900 % |
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| Compound Yield | 1.8966 % |
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| Accrued Interest | 0.812055 (156 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 3.88 |
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| Macaulay Duration | 3.91 |
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| DV01 | — |
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| Convexity | 17.4 |
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Estimates based on the input price.
Cashflow Schedule
| Date | Type | Amount (per 100) |
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| 2026-09-20 | coupon | 0.950 |
| 2027-03-20 | coupon | 0.950 |
| 2027-09-20 | coupon | 0.950 |
| …（4 omitted）… |
| 2030-03-20 | coupon | 0.950 |
| 2030-09-20 | coupon + redemption | 100.950 |
Related Auctions
Horizon total return settle 2026-08-23 ・ CMT 2026-08-20
| CMT interpolated (rem 4.1y) | 2.010 % → ref. price 99.559 |
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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 | 1.468 | 101.598 | -0.479 | +1.55% | +6.22% |
| -25bp | 1.718 | 100.667 | -0.479 | +0.63% | +2.51% |
| Unchanged (roll-down) | 1.968 | 99.746 | -0.479 | -0.29% | -1.16% |
| +25bp | 2.218 | 98.835 | -0.479 | -1.20% | -4.79% |
| +50bp | 2.468 | 97.933 | -0.479 | -2.10% | -8.39% |
| 6m 2027-02-23 | -50bp | 1.421 | 101.660 | 0.950 | +3.04% | +6.08% |
| -25bp | 1.671 | 100.787 | 0.950 | +2.17% | +4.34% |
| Unchanged (roll-down) | 1.921 | 99.924 | 0.950 | +1.31% | +2.62% |
| +25bp | 2.171 | 99.068 | 0.950 | +0.46% | +0.92% |
| +50bp | 2.421 | 98.222 | 0.950 | -0.39% | -0.77% |
| 12m 2027-08-23 | -50bp | 1.328 | 101.706 | 1.900 | +4.03% | +4.03% |
| -25bp | 1.578 | 100.950 | 1.900 | +3.28% | +3.28% |
| Unchanged (roll-down) | 1.828 | 100.200 | 1.900 | +2.53% | +2.53% |
| +25bp | 2.078 | 99.457 | 1.900 | +1.79% | +1.79% |
| +50bp | 2.328 | 98.721 | 1.900 | +1.06% | +1.06% |