AE38
Bono Step-Up 2038 Ley Local
SoberanoUSDLocalAmort.Semestral
Emisor
República Argentina
Vencimiento
09/01/2038
Cupón
5.00% (Semestral)
Legislación
Local
ISIN
ARARGE3209U2
Fecha de emisión
04/09/2020
Valor nominal
$100
Estructura
Amort.
Métricas al último precio
Precio USD $81.06 · 05/06/2026TIR (YTM)
9.23%
Tasa interna de retorno anual
Spread UST
509 bps
Diferencial sobre Tesoro EEUU
Paridad
81.06%
Precio / valor residual vigente
Precio limpio
$81.06
Precio cotizado en mercado
Precio sucio
$83.12
Precio de liquidación
Interés corrido
$2.06
Cupón devengado desde último pago
Vida promedio
6.34 años
Plazo promedio a amortizaciones
Duration Macaulay
4.81 años
Plazo promedio ponderado
Duration Mod.
4.60 años
Sensibilidad al rendimiento
Convexidad
32.31
Curvatura precio-rendimiento
DV01
$0.0382
Cambio de precio por 1 bp
Tabla de sensibilidad
Variación de precio ante shocks de TIR| Shock TIR | TIR resultante | Precio limpio | Variación | DV01 |
|---|---|---|---|---|
| -300 bps | 6.23% | $93.85 | +15.78% | $0.0474 |
| -200 bps | 7.23% | $89.28 | +10.14% | $0.0441 |
| -100 bps | 8.23% | $85.02 | +4.89% | $0.0410 |
| -50 bps | 8.73% | $83.01 | +2.40% | $0.0396 |
| -25 bps | 8.98% | $82.02 | +1.19% | $0.0389 |
| 0 bps (actual) | 9.23% | $81.06 | — | $0.0382 |
| +25 bps | 9.48% | $80.11 | -1.17% | $0.0376 |
| +50 bps | 9.73% | $79.18 | -2.32% | $0.0369 |
| +100 bps | 10.23% | $77.37 | -4.56% | $0.0357 |
| +200 bps | 11.23% | $73.92 | -8.81% | $0.0333 |
| +300 bps | 12.23% | $70.70 | -12.78% | $0.0311 |
Precio histórico (USD) — último año
TIR histórica (%) — último año
Cronograma de pagos
| # | Fecha | Residual | Amortización | Cupón | Flujo Total |
|---|---|---|---|---|---|
| 1 | 09/07/2021 | 100% | - | $0.11 | $0.11 |
| 2 | 09/01/2022 | 100% | - | $1.00 | $1.00 |
| 3 | 09/07/2022 | 100% | - | $1.00 | $1.00 |
| 4 | 09/01/2023 | 100% | - | $1.94 | $1.94 |
| 5 | 09/07/2023 | 100% | - | $1.94 | $1.94 |
| 6 | 09/01/2024 | 100% | - | $2.13 | $2.13 |
| 7 | 09/07/2024 | 100% | - | $2.13 | $2.13 |
| 8 | 09/01/2025 | 100% | - | $2.50 | $2.50 |
| 9 | 09/07/2025 | 100% | - | $2.50 | $2.50 |
| 10 | 09/01/2026 | 100% | - | $2.50 | $2.50 |
| 11 | 09/07/2026 | 100% | - | $2.50 | $2.50 |
| 12 | 09/01/2027 | 100% | - | $2.50 | $2.50 |
| 13 | 09/07/2027 | 100% | $4.55 | $2.50 | $7.05 |
| 14 | 09/01/2028 | 95% | $4.55 | $2.39 | $6.93 |
| 15 | 09/07/2028 | 91% | $4.55 | $2.27 | $6.82 |
| 16 | 09/01/2029 | 86% | $4.55 | $2.16 | $6.70 |
| 17 | 09/07/2029 | 82% | $4.55 | $2.05 | $6.59 |
| 18 | 09/01/2030 | 77% | $4.55 | $1.93 | $6.48 |
| 19 | 09/07/2030 | 73% | $4.55 | $1.82 | $6.36 |
| 20 | 09/01/2031 | 68% | $4.55 | $1.70 | $6.25 |
| 21 | 09/07/2031 | 64% | $4.55 | $1.59 | $6.14 |
| 22 | 09/01/2032 | 59% | $4.55 | $1.48 | $6.02 |
| 23 | 09/07/2032 | 55% | $4.55 | $1.36 | $5.91 |
| 24 | 09/01/2033 | 50% | $4.55 | $1.25 | $5.80 |
| 25 | 09/07/2033 | 45% | $4.55 | $1.14 | $5.68 |
| 26 | 09/01/2034 | 41% | $4.55 | $1.02 | $5.57 |
| 27 | 09/07/2034 | 36% | $4.55 | $0.91 | $5.45 |
| 28 | 09/01/2035 | 32% | $4.55 | $0.80 | $5.34 |
| 29 | 09/07/2035 | 27% | $4.55 | $0.68 | $5.23 |
| 30 | 09/01/2036 | 23% | $4.55 | $0.57 | $5.11 |
| 31 | 09/07/2036 | 18% | $4.55 | $0.45 | $5.00 |
| 32 | 09/01/2037 | 14% | $4.55 | $0.34 | $4.89 |
| 33 | 09/07/2037 | 9% | $4.55 | $0.23 | $4.77 |
| 34 | 09/01/2038 | 5% | $4.55 | $0.11 | $4.66 |
| Total | $100.00 | $33.75 | $133.75 | ||
Descripción
Bono soberano en USD ley argentina, vencimiento 2038. Cupón step-up: 0.125% → 2% → 3.875% → 4.25% → 5%. Amortiza 1/22 semestral desde julio 2027.