2-year SGS Bond
N213100S
Originally auctioned 29 Jan 2013 · Matures 01 Feb 2015 · matured left
Latest cutoff yield
0.30%
Auctioned 29 Jan 2013 (original issue) · median 0.27%
Issue details
- Fixed coupon:
- 0.25% · paid 01 Feb / 01 Aug
- Tenor:
- 2 years
- Outstanding:
- S$2.9B
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 29 Jan 2013 | new issue | 0.30% | 0.27% | 2.02 | S$2.9B |
2-year SGS cutoff yield history
Latest auction in context
- Yield change: The 0.30% cutoff is 1 bp lower than the previous 2-year SGS auction (N509100N, 0.31% on 26 Sept 2012).
- Price vs par: The bond cleared at S$99.90 per S$100 face value — a discount, because the 0.25% fixed coupon is below the 0.30% market yield. The lower price compensates for the smaller coupon.
Descriptive observations from MAS auction history — not forecasts or recommendations.
About SGS Bonds
SGS Bonds pay the fixed coupon (0.25% 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.
Learn more
- The full SG retail fixed-income landscape — where SGS bonds sit alongside SSB, T-bills, FDs, MMFs, and CPF.
- Singapore T-bill auctions explained — same MAS uniform-price auction format applies to SGS bonds.
- SSB vs T-bill — the broader retail-bond decision framework, with SGS noted as the long-tenor option.