2-year SGS Bond
N294101N
Originally auctioned 28 Nov 1994 · Matures 01 Dec 1996 · matured left
Latest cutoff yield
3.43%
Auctioned 28 Nov 1994 (original issue) · median 0.00%
Issue details
- Fixed coupon:
- 3.38% · paid 01 Jun / 01 Dec
- Tenor:
- 2 years
- Outstanding:
- S$500M
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 28 Nov 1994 | new issue | 3.43% | 0.00% | 1.71 | S$500M |
2-year SGS cutoff yield history
Latest auction in context
- Yield change: The 3.43% cutoff is 11 bp higher than the previous 2-year SGS auction (N294100W, 3.32% on 01 Aug 1994).
- Price vs par: The bond cleared at S$99.89 per S$100 face value — a discount, because the 3.38% fixed coupon is below the 3.43% 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 (3.38% 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.