30-year SGS Bond
NA20100F
Originally auctioned 26 Feb 2020 · Matures 01 Mar 2050 · 23y 9m left
Latest cutoff yield
1.40%
Auctioned 27 Jan 2021 (reopening) · median 1.30%
Issue details
- Fixed coupon:
- 1.88% · paid 01 Sep / 01 Mar
- Tenor:
- 30 years
- Outstanding:
- S$7.2B
- Auctions held:
- 4 (1 original + 3 reopenings)
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 27 Jan 2021 | reopen | 1.40% | 1.30% | 1.81 | S$3.1B |
| 27 Aug 2020 | reopen | 1.15% | 1.09% | 2.08 | S$1.0B |
| 26 Jun 2020 | reopen | 1.28% | 1.10% | 2.85 | S$800M |
| 26 Feb 2020 | new issue | 1.90% | 1.85% | 2.36 | S$2.3B |
30-year SGS cutoff yield history
Latest auction in context
- Yield change: The 1.40% cutoff is 25 bp higher than the prior reopening of this issue (1.15% on 27 Aug 2020).
- Price vs par: The bond cleared at S$112.11 per S$100 face value — a premium, because the 1.88% fixed coupon is above the 1.40% market yield. Buyers pay more upfront for the higher coupon stream.
- Issue history: This issue has been reopened 3 times since the original auction on 26 Feb 2020. Reopenings add to the same line — same coupon, same maturity — but reprice at each auction's cutoff yield.
Descriptive observations from MAS auction history — not forecasts or recommendations.
About SGS Bonds
SGS Bonds pay the fixed coupon (1.88% in this issue's case) semi-annually on face value until maturity. The cutoff yield is what the auction priced at — it reflects the market's required return and changes at each reopening. Holding to maturity returns face value; selling earlier in the secondary market exposes you to price fluctuation as rates move.
Frequently asked questions
- When does NA20100F mature?
- NA20100F matures on 01 Mar 2050. At maturity, holders receive the full face value of S$1,000 per bond, plus the final semi-annual coupon.
- What is the coupon rate for NA20100F?
- NA20100F pays a fixed coupon of 1.88% per year, paid semi-annually. The coupon rate is set at the original auction and does not change for reopenings — reopening auctions adjust the issue price instead to reflect prevailing yields.
- How does NA20100F's coupon compare to the current 30-year SGS benchmark yield?
- NA20100F's fixed coupon of 1.88% is 15 bp below the current 30-year SGS benchmark of 2.03% (as of 12 Jun 2026). When the benchmark yield rises above an existing bond's coupon, that bond trades below par on the secondary market; when it falls below the coupon, the bond trades above par.
- How is SGS interest taxed for individuals?
- SGS bonds are Qualifying Debt Securities (QDS) under IRAS. Interest income from SGS held by individuals is tax-exempt in Singapore. See iras.gov.sg for the full QDS scheme conditions.
- Where can I buy NA20100F?
- NA20100F has already been issued (most recent auction 27 Jan 2021). It can be bought or sold on the SGX secondary market through a stockbroker with CDP access. New SGS bonds are issued via MAS primary auctions — see /sgs/ for the current calendar.
Explore more
Other 30-year SGS
- ← NA16100H — 2.60% cutoff
- NA21200W → — 3.11% cutoff
- Latest 30-year: NA24300E — 2.57% cutoff
- All SGS bonds →
Compare & cross-check
- Latest SSB: GX26070F — 1.46% year 1
- Latest 6-mo T-bill: BS26111H — 1.48% cutoff
- Compare SSB · T-bill · SGS →