5-year SGS Bond
N594100V
Originally auctioned 25 Jan 1994 · Matures 01 Feb 1999 · matured left
Latest cutoff yield
3.30%
Auctioned 25 Jan 1994 (original issue) · median 0.00%
Issue details
- Fixed coupon:
- 3.13% · paid 01 Aug / 01 Feb
- Tenor:
- 5 years
- Outstanding:
- S$850M
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 25 Jan 1994 | new issue | 3.30% | 0.00% | 1.93 | S$850M |
5-year SGS cutoff yield history
Latest auction in context
- Yield change: The 3.30% cutoff is 57 bp higher than the previous 5-year SGS auction (N593100A, 2.73% on 13 Dec 1993).
- Price vs par: The bond cleared at S$99.20 per S$100 face value — a discount, because the 3.13% fixed coupon is below the 3.30% 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 (3.13% 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.