Corporate · RU000A10FEB7
IPJSC YANDEX 001P-05
RU000A10FEB7
15.04%
yield to maturity
fair-35 bp
Price
99.00%
994 ₽ with accrued interest
Coupon
13.40%
12×/yr
Maturity
08.06.2028
term 1.6 y
Duration
1.5 y
price −1.2% per +1 pp of rate
Premium over OFZ
+59 bp
over OFZ 14.45% at 1.45 yr
Credit risk
AAA(RU)
ACRA · low
Price and premium over OFZhow the bond has traded and how much it pays over OFZ
Bond price, % of par
Incomewhat your investment will earn and when payments arrive
Yield calculator
Bonds for the amount—
Purchase price per unit (with accrued interest)—
Investment amount—
Fee—
Coupon income to maturity—
Principal repayment—
Total profit—
Fair price
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—
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—
If rates change: duration, convexity, stress
Current yield—
Duration (Macaulay)—
Modified duration—
Convexity—
PVBP, ₽—
Price at ±1 pp—
Stress on the rate
bp yield
Price, %—
Change—
Position P&L—
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Effective YTM under the MOEX convention (ACT/365). The fair price discounts the cash flows at the yield of a comparable credit class (a reference point).
Expected income and buffer · for the year
Over the key rate+104 bp
Roll-down (year)+0.45%
Expected income+15.49%
Safety buffer+1227 bp
Cash flows
| Date | Coupon, ₽ | Principal, ₽ | Total, ₽ |
|---|
Coupon payments and principal repayment by date for one bond. On the chart, coupons use the left axis and face value the right one.
Issuer credit qualitycredit risk and the issuer's debt on the exchange
Credit risk
Low
issuer rating AAA · ACRA
Default probability
≈ 0.02%
per year, by issuer rating
Issuer debt on the exchange
165 bn ₽
5 issues
Due within a year
24%
of exchange debt, maturities and puts
Cost of debt
14.92%
market 15.09%
Issuer debt maturities by year
202740.0 bn
202885.0 bn
202940.0 bn
Risk-adjusted yield
15.02%
without the adjustment — 15.04%: expected default losses reduce the yield by 2 bp (1 bp = 0.01 pp)
The probability of default is 0.02% a year: the historical average for this rating. In a default, holders recover 30% of face value on average.
What the spread over OFZ is made of
Expected loss 2 bp
Exit cost 6 bp
Risk premium 51 bp
FairValue score
Attractiveness score52/100
How the score is built
Cheap vs norm
no signal
—
weight 15%
Cheap vs group
8
weight 15%
Safety buffer
42
weight 25%
Liquidity
53
weight 25%
Credit quality
100
weight 20%
Peerssimilar bonds of other issuers
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History and alternativewhat the bond returned in the past and a comparison with a deposit
A bond or a deposit?
This bond
15.0%
the rate is fixed for 1.6 y
Deposit
13.1%
top-10 banks, decade 2 of October 2026
Liquidity fund
13.6%
floats with the CBR key rate
The yield is 2.0 pp above the deposit rate. The bond's rate is fixed until maturity: if the Bank of Russia cuts the key rate, rates on new deposits and the liquidity fund yield will fall, while the bond's income will stay the same.
A pre-tax comparison. Bond coupons are taxed at 13% personal income tax — see the “After-tax yield” row in the bond parameters (≈ 12.9%). Deposit interest is taxed above a tax-free allowance; a liquidity fund qualifies for the long-term holding relief after 3 years.
Issue parametersterms, buying now, yields and spreads
Terms
Coupon13.40% a year · 12 payments/yr
Coupon, ₽11.01
Par1 000 ₽
Maturity08.06.2028 · 1.6 y
Issue
Listing level2
Issue size20 bn ₽
Lot1 units
Buying now
Order book98.82 / 99.00%spread 0.18% (≈12 bp of yield)
Cost of entry≈ 91 ₽ per 100,000 ₽ · quote 27.10 20:00
Accrued interest, ₽4.03 as of 28.10.2026
Average daily turnover2.3 mn ₽
Trades today92 · turnover 2.8 mn ₽
Yields
Current yield13.54%
Simple yield14.10%
After-tax yield12.94% / 12.62% at 15%
Spreads and valuation
Z-spread over OFZ+51 bp
Spread over swaps (I)+65 bp
Z-spread over swaps+64 bp
Peer assessmentFair -35 bp
MOEX ISS data. Not an individual investment recommendation. Yields, spreads and the fair price are calculated from the exchange quote and are for reference: a real trade goes through at the order book price and depends on the issue's liquidity. The calculations exclude broker and exchange fees; tax is shown on a separate line and simplified (no accrued interest at purchase).