5-year SGS Bond
N592100E
Originally auctioned 12 May 1992 · Matures 15 May 1997 · matured left
Latest cutoff yield
4.24%
Auctioned 12 May 1992 (original issue) · median 0.00%
Issue details
- Fixed coupon:
- 4.13% · paid 15 Nov / 15 May
- Tenor:
- 5 years
- Outstanding:
- S$700M
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 12 May 1992 | new issue | 4.24% | 0.00% | 2.38 | S$700M |
5-year SGS cutoff yield history
Latest auction in context
- Yield change: The 4.24% cutoff is 94 bp lower than the previous 5-year SGS auction (N591101Z, 5.18% on 27 Aug 1991).
- Price vs par: The bond cleared at S$99.49 per S$100 face value — a discount, because the 4.13% fixed coupon is below the 4.24% 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 (4.13% 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.