Think the opportunity ended when the recent Retail Treasury Bond subscription period closed?
Not quite.
Many investors are surprised to learn that government bonds continue trading even after the offer period ends. This means investors who missed the initial Treasury issuance may still be able to access the same government-backed investment, potentially with yields that remain attractive in today’s market.
RTB 02-01 (RTB 32) is a 2.5-year government-backed bond issued by the Republic of the Philippines. It offers a 6.875% annual coupon rate, paid quarterly, with a maturity date of April 12, 2029.
Key features include:
For investors seeking relatively stable returns and regular cash flows, RTB 02-01 remains an attractive fixed-income option.
After issuance, bonds continue to trade in the secondary market, where existing bondholders can sell their investments to other investors before maturity.
This means that even if you missed the original RTB offer, you may still have the opportunity to invest by buying the bond in the secondary market.
One important concept to understand is accrued interest. Since bond interest accrues daily between coupon payment dates, the buyer compensates the seller for the interest earned from the last coupon payment date up to the settlement date.
In simple terms:
Total Purchase Cost = Bond Price + Accrued Interest
While this increases the amount paid at purchase, the buyer will receive the full coupon payment on the next scheduled interest payment date.
This ensures that both the seller and buyer receive the interest earned during their respective holding periods.
Among government securities with approximately 2.5 years remaining to maturity, RTB 02-01 offers yields comparable to similar bonds currently available in the secondary market.
Note: Indicative prices and yields as of October 13, 2026. Actual market quotations are subject to availability and may change without prior notice.
Based on current secondary market quotations, RTB 02-01 offers yields comparable to other government securities with similar maturities.
Missing the primary RTB 02-01 offering does not necessarily mean missing the investment opportunity. Through the secondary market, investors can still access a government-backed security that offers competitive yields and fixed quarterly income payments until maturity.
For investors seeking regular cash flows and capital preservation, RTB 02-01 remains an attractive option.
To learn more about current availability, pricing, and suitability, reach out to your Wealth Specialist or log in to Metrobank Wealth Manager.
DANA LOUISE GERONIMO is an Investment Counselor at Metrobank under the Markets Advisory Division. She built her expertise through her previous roles as an Investment Specialist and as a Financial Markets Sector Management Trainee within the bank. Dana holds a Master’s degree in Industrial Economics from the University of Asia and the Pacific. Outside of work, she enjoys exploring different fitness centers and reading.
