State bond 0,25/27 (CZ0001005037)
A Czech state bond due 2027-02-10 with a 0.25% coupon. Today it costs 99.070% of its nominal value, yields 4.052% a year to maturity, duration 0.25.
- Buy at 99.070%, sell at 99.070% of the nominal value (Patria, 2026-11-10).
- One piece: a nominal value of 10,000 CZK, today about 9,925.84 CZK with the accrued coupon.
- Yield to maturity 4.052% a year; modified duration 0.25.
- Maturity 2027-02-10, in 0.3 years.
- Státní dluhopis 100. emise of 2017-02-10.
- 15% is withheld from the coupon (issued before 1 Jan 2021).
- Next coupon 2027-02-10.
- Accrued coupon 18.84 CZK a piece.
- 159.00 bn CZK nominal in issue.
Price by day
| Day | Price (mid of buy and sell) |
|---|---|
| 2026-11-10 | 99.070% |
| 2026-11-09 | 99.110% |
| 2026-11-06 | 99.050% |
| 2026-11-05 | 99.040% |
| 2026-11-04 | 99.010% |
| 2026-11-03 | 99.000% |
| 2026-11-02 | 98.990% |
| 2026-10-28 | 98.940% |
Bonds due nearby
- State bond VAR/27 – 2027-11-19, yield 4.09%
- State bond 2,50/28 – 2028-08-25, yield 4.24%
Questions
What does one piece of the state bond 0,25/27 cost?
The nominal value is 10,000 CZK. Today you buy it at 99.070% of the nominal plus the accrued coupon, about 9,925.84 CZK a piece, plus the broker's fee.
What does it earn if I hold it to maturity?
The yield to maturity at today's price is 4.052% a year, before fees and tax. At maturity the state pays 100% of the nominal value. Until then it pays 1 more coupons of 25 CZK a piece.
How much can the price move?
The modified duration is 0.25: if market rates rise by 1 percentage point, the price falls by about 0.2%, and the other way round.
Is the coupon taxed?
Yes, 15% is withheld from each coupon. The bond was issued on 2017-02-10, before 1 Jan 2021; the coupon exemption covers only issues from that day on.
What is the accrued coupon (AUV)?
The part of the next coupon that belongs to the days since the last one. The buyer pays it to the seller on top of the price in %, because the buyer then gets the whole next coupon. Just before a coupon is paid it can be negative – the seller gets that coupon then.
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