5-year SGS Bond
N592101F
Originally auctioned 17 Nov 1992 · Matures 15 Nov 1997 · matured left
Latest cutoff yield
3.91%
Auctioned 17 Nov 1992 (original issue) · median 0.00%
Issue details
- Fixed coupon:
- 3.88% · paid 15 May / 15 Nov
- Tenor:
- 5 years
- Outstanding:
- S$600M
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 17 Nov 1992 | new issue | 3.91% | 0.00% | 2.02 | S$600M |
5-year SGS cutoff yield history
Latest auction in context
- Yield change: The 3.91% cutoff is 33 bp lower than the previous 5-year SGS auction (N592100E, 4.24% on 12 May 1992).
- Price vs par: The bond cleared at S$99.84 per S$100 face value — a discount, because the 3.88% fixed coupon is below the 3.91% 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 (3.88% 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.