2.00 % Federal Treasury note 2025
ISIN
DE000BU22114
WKN
BU2211
Type
Federal Treasury note
Price (03.02.2026)
99.818
-0.05%
Yield (03.02.2026)
2.10%
+0.03 PP
Issuance data
| Issuer | Federal Republic of Germany |
|---|---|
| Maturity segment | 2 years |
| Issuance volume | 21,000,000,000 € |
| Issuance currency | € |
| Issuance date | 14.10.2025 |
| Maturity | 16.12.2027 |
| Smallest tradable unit | 0.01 € |
| Stock-market listing | yes |
| Eligibility for security | gilt-edged |
| Terms of issue | Download (PDF) |
Coupon data
| Coupon in % | 2.00 |
|---|---|
| Payable | annually |
| Interest calculated from | 16. October 2025 |
| First interest payment | 16. December 2026 |
| Interest calculation | actual/actual (ICMA) |
| Date | Type | Lowest accepted price | Average price | Average yield | Bid/Cover ratio |
|---|---|---|---|---|---|
| 14.10.2025 | New Issue | 100.175 | 100.178 | 1.91% | 1.4 |
| 04.11.2025 | Reopening | 100.02 | 100.026 | 1.98% | 1.7 |
| 02.12.2025 | Reopening | 99.88 | 99.894 | 2.05% | 1.7 |
| 06.01.2026 | Reopening | 99.79 | 99.791 | 2.11% | 1.9 |
| Date | Type | Volume | Bids | Competitive bids | Non-competitive bids | Allotted volume | Retention quote |
|---|---|---|---|---|---|---|---|
| 14.10.2025 | New Issue | 5,500 € mn | 5,909 € mn | 2,472 € mn | 3,437 € mn | 4,249.6 € mn | 1,250.4 € mn |
| 04.11.2025 | Reopening | 5,000 € mn | 6,290 € mn | 4,260 € mn | 2,030 € mn | 3,766 € mn | 1,234 € mn |
| 02.12.2025 | Reopening | 4,500 € mn | 6,156 € mn | 3,670 € mn | 2,486 € mn | 3,562.68 € mn | 937.32 € mn |
| 06.01.2026 | Reopening | 6,000 € mn | 8,765 € mn | 5,235 € mn | 3,530 € mn | 4,547 € mn | 1,453 € mn |