---
source: U.S. Department of the Treasury
url: https://www.treasurydirect.gov/instit/annceresult/press/preanre/2026/R_20260428_3.pdf
document_type: pdf
date_retrieved: 2026-04-28
period: April 28, 2026
parent_publication: Treasury Auction Results — 7-Year Note
indicators_covered: [7-Year Note Yield (High), 7-Year Note Yield (Median), Bid-to-Cover Ratio, Tender/Accepted Volumes]
---

# Treasury Auction Results — 7-Year Note
**Release Date:** April 28, 2026  
**CUSIP:** 91282CQN4 | **Series:** K-2033  
**Interest Rate:** 4-1/8% | **Issue Date:** April 30, 2026 | **Maturity Date:** April 30, 2033

---

## High-Level Metrics

| Field | Value |
|---|---|
| High Yield | 4.175% |
| Allotted at High | 1.89% |
| Price per $100 | 99.699199 |
| Accrued Interest per $1,000 | None |
| Median Yield | 4.120% |
| Low Yield | 2.880% |

---

## Tenders and Awards (USD)

| | Competitive | Noncompetitive | FIMA | **Total** |
|---|---:|---:|---:|---:|
| **Tendered** | $110,488,273,000 | $88,173,900 | $0 | **$110,576,446,900** |
| **Accepted** | $43,911,881,800 | $88,173,900 | $0 | **$44,000,055,700** |

### Competitive Tenderer Breakdown

| Bidder Category | Tendered | Accepted |
|---|---:|---:|
| Primary Dealers | $60,694,000,000 | $5,110,463,800 |
| Direct Bidders | $15,867,900,000 | $13,177,650,000 |
| Indirect Bidders | $33,926,373,000 | $25,623,768,000 |
| **Total Competitive** | **$110,488,273,000** | **$43,911,881,800** |

---

## Additional Statistics

- **Bid-to-Cover Ratio:** 2.51 (`Tendered` / `Accepted`)
- **SOMA Holdings Accepted:** $5,537,716,000 (included in total accepted)
- **Treasury Retail Awards:** $44,137,900
- **Auction Format:** Single-Price

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### Source Footnotes

1. **High Yield** — highest yield accepted in competitive bidding.
2. **Median Yield** — median yield of accepted competitive bids (yield of the marginal accepted bid).
3. **Low Yield** — lowest yield accepted in competitive bidding.
4. All tenders at lower yields were accepted in full. 50% of accepted competitive tender amount was at or below the high yield; 5% at or below the low yield.
5. SOMA = System Open Market Account (Federal Reserve).
6. Full auction methodology: [Treasury Direct Auction FAQs](https://www.treasurydirect.gov/help-center/faqs/auction-faqs/).

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**Note on previous yield:** Payload `previous: 4.255` refers to the prior auction's high yield (not reproduced in this release document). The current high yield of **4.175%** represents a 8.0 basis point decrease from the previous 7-Year Note auction.

*Extracted from official Treasury Auction Results press release (PDF), published April 28, 2026 by the U.S. Department of the Treasury.*