7-year SGS Bond
NX02100S
Originally auctioned 26 Jun 2002 · Matures 01 Jul 2012 · matured left
Latest cutoff yield
2.45%
Auctioned 28 Jun 2005 (reopening)
Issue details
- Fixed coupon:
- 3.50% · paid 01 Jan / 01 Jul
- Tenor:
- 7 years
- Outstanding:
- S$3.4B
- Auctions held:
- 2 (1 original + 1 reopening)
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 28 Jun 2005 | reopen | 2.45% | — | 2.54 | S$1.4B |
| 26 Jun 2002 | new issue | 3.59% | — | 1.80 | S$2.0B |
7-year SGS cutoff yield history
Latest auction in context
- Yield change: The 2.45% cutoff is 50 bp lower than the previous 7-year SGS auction (NX01100H, 2.95% on 25 Feb 2004).
- Price vs par: The bond cleared at S$106.72 per S$100 face value — a premium, because the 3.50% fixed coupon is above the 2.45% market yield. Buyers pay more upfront for the higher coupon stream.
- Issue history: This issue has been reopened 1 time since the original auction on 26 Jun 2002. 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 (3.50% 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 NX02100S mature?
- NX02100S matures on 01 Jul 2012. 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 NX02100S?
- NX02100S pays a fixed coupon of 3.50% 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 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 NX02100S?
- NX02100S has already been issued (most recent auction 28 Jun 2005). 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 7-year SGS
- ← NX01100H — 2.95% cutoff
- NX03100Z → — 3.51% cutoff
- Latest 7-year: NX16100F — 1.73% 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 →