5-year SGS Bond
N589100Z
Originally auctioned 20 Jun 1989 · Matures 15 Jun 1994 · matured left
Latest cutoff yield
5.38%
Auctioned 20 Jun 1989 (original issue) · median 0.00%
Issue details
- Fixed coupon:
- 5.25% · paid 15 Dec / 15 Jun
- Tenor:
- 5 years
- Outstanding:
- S$600M
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 20 Jun 1989 | new issue | 5.38% | 0.00% | 2.57 | S$600M |
5-year SGS cutoff yield history
Latest auction in context
- Yield change: The 5.38% cutoff is 1 bp higher than the previous 5-year SGS auction (N588101H, 5.37% on 01 Nov 1988).
- Price vs par: The bond cleared at S$99.44 per S$100 face value — a discount, because the 5.25% fixed coupon is below the 5.38% 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 (5.25% 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.