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TIPS Public

U.S. Treasury 0.88% TIPS due Feb 15, 2047

CUSIP 912810RW0 · 29-Year 4-Month · coupon paid semiannually

AAA·Govt
Real yield to maturity i
2.83%
real yield — off the Treasury real-yield curve
Current yield i
1.25%
Coupon i
0.88%
Modified duration i
18.0 yr
Convexity i
361.31
Indicative REAL price i
69.759
real model per 100 real par — not a tradable quote
real auctioned at 100.838 · 0.91% high yield (Oct 19, 2017) · reopening — at issuance, not a current price
These are real (inflation-adjusted) figures off the Treasury real-yield curve. The actual dollar invoice = the real price × this TIPS's CPI index ratio, which is not applied here.
Settles i
Jul 29, 2026
priced to this date (T+1 basis)
Real price i
70.156
real dirty price per 100 real par. The $ invoice = real price × CPI index ratio (not applied)
Next coupon i
Aug 15, 2026
0.438 per 100 (real coupon; actual $ scales with the CPI index ratio)

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Oct 2017par 100 · Feb 204742 coupons remaining + principal

Terms fetched

Type TIPS Treasury Inflation-Protected Securities — principal tracks the CPI.
Term i29-Year 4-Month
Coupon i0.88% (semiannual)
Maturity iFeb 15, 2047
Issue dateOct 31, 2017
Par value i100.00
CallableNo
Amount outstanding i$13.6B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price (real) i
69.759
Dirty price (real) i
70.156
Accrued interest i
0.396
per 100 par
Yield to maturity (real) i
2.83%
Yield to worst (real) i
2.83%
Current yield i
1.25%
Modified duration i
18.0 yr
Macaulay duration i
18.3 yr
Convexity i
361.31
DV01 i
0.1266
per 100 par

indicative REAL price/yield — discounted off the Treasury real-yield curve; CPI inflation accrual (index ratio) is not applied.

Remaining cash flows

42 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20260.438 0.998280.437
Feb 15, 20270.438 0.978550.428
Aug 15, 20270.438 0.958910.420
Feb 15, 20280.438 0.938410.411
Aug 15, 20280.438 0.917830.402
Feb 15, 20290.438 0.897860.393
Aug 15, 20290.438 0.878370.384
Feb 15, 20300.438 0.859120.376
Aug 15, 20300.438 0.840420.368
Feb 15, 20310.438 0.821650.359
Aug 15, 20310.438 0.803360.351
Feb 15, 20320.438 0.784340.343
Aug 15, 20320.438 0.765670.335
Feb 15, 20330.438 0.746940.327
Aug 15, 20330.438 0.728720.319
Feb 15, 20340.438 0.710830.311
Aug 15, 20340.438 0.693450.303
Feb 15, 20350.438 0.675990.296
Aug 15, 20350.438 0.659030.288
Feb 15, 20360.438 0.642010.281
Aug 15, 20360.438 0.625380.274
Feb 15, 20370.438 0.608780.266
Aug 15, 20370.438 0.592660.259
Feb 15, 20380.438 0.576490.252
Aug 15, 20380.438 0.560810.245
Feb 15, 20390.438 0.545100.238
Aug 15, 20390.438 0.529860.232
Feb 15, 20400.438 0.514600.225
Aug 15, 20400.438 0.499730.219
Feb 15, 20410.438 0.484920.212
Aug 15, 20410.438 0.470580.206
Feb 15, 20420.438 0.456240.200
Aug 15, 20420.438 0.442350.194
Feb 15, 20430.438 0.428450.187
Aug 15, 20430.438 0.415010.182
Feb 15, 20440.438 0.401580.176
Aug 15, 20440.438 0.388520.170
Feb 15, 20450.438 0.375540.164
Aug 15, 20450.438 0.362990.159
Feb 15, 20460.438 0.350470.153
Aug 15, 20460.438 0.338790.148
Feb 15, 2047100.438 0.3301833.162
Sum of present values 70.156

Present values sum to the dirty price; subtract 0.396 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +43.32% 99.980
-100 bp (-1.0%) +19.85% 83.609
+100 bp (+1.0%) -16.24% 58.429
+200 bp (+2.0%) -28.87% 49.620

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (18.0 yr) and convexity. Real moves are rarely parallel; this is not a forecast.

What to know

Key risks

  • Interest-rate risk. If market yields rise, the price falls — and more so the longer the maturity. See the rate-sensitivity table above.
  • Inflation risk. Fixed coupons lose purchasing power if inflation rises. TIPS are designed to offset this; nominal bills, notes and bonds are not.
  • Reinvestment risk. Coupons, and principal at maturity, may have to be reinvested later at lower rates than today's.
  • Liquidity / price risk. Selling before maturity means taking the market price at that time, which can be above or below the indicative value shown here.

Tax

Interest on U.S. Treasuries is subject to federal income tax but is generally exempt from state and local income tax.

How Treasuries are bought

New issues are sold at auction (including directly via TreasuryDirect.gov); outstanding securities trade on the secondary market through a broker. This site is for research only and does not sell or recommend securities.

General information only — not tax, legal or investment advice.

Benchmark yield, past year

All tenors →
4.444.895.34Jan 2026Jul 2026

Par yield of the nearest benchmark tenor — the main input to this bond's price.