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TIPS Public

U.S. Treasury 0.25% TIPS due Feb 15, 2050

CUSIP 912810SM1 · 29-Year 6-Month · coupon paid semiannually

AAA·Govt
Real yield to maturity i
2.66%
real yield — off the Treasury real-yield curve
Current yield i
0.43%
Coupon i
0.25%
Modified duration i
22.4 yr
Convexity i
526.41
Indicative REAL price i
57.944
real model per 100 real par — not a tradable quote
real auctioned at 116.316 · -0.27% high yield (Aug 20, 2020) · 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
Jun 18, 2026
priced to this date (T+1 basis)
Real price i
58.029
real dirty price per 100 real par. The $ invoice = real price × CPI index ratio (not applied)
Next coupon i
Aug 15, 2026
0.125 per 100 (real coupon; actual $ scales with the CPI index ratio)

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Aug 2020par 100 · Feb 205048 coupons remaining + principal

Terms fetched

Type TIPS Treasury Inflation-Protected Securities — principal tracks the CPI.
Term i29-Year 6-Month
Coupon i0.25% (semiannual)
Maturity iFeb 15, 2050
Issue dateAug 31, 2020
Par value i100.00
CallableNo
Amount outstanding i$8.0B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price (real) i
57.944
Dirty price (real) i
58.029
Accrued interest i
0.085
per 100 par
Yield to maturity (real) i
2.66%
Yield to worst (real) i
2.66%
Current yield i
0.43%
Modified duration i
22.4 yr
Macaulay duration i
22.7 yr
Convexity i
526.41
DV01 i
0.1298
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

48 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20260.125 0.994140.124
Feb 15, 20270.125 0.974420.122
Aug 15, 20270.125 0.954800.119
Feb 15, 20280.125 0.934290.117
Aug 15, 20280.125 0.914170.114
Feb 15, 20290.125 0.895260.112
Aug 15, 20290.125 0.876950.110
Feb 15, 20300.125 0.858460.107
Aug 15, 20300.125 0.840570.105
Feb 15, 20310.125 0.822670.103
Aug 15, 20310.125 0.805090.101
Feb 15, 20320.125 0.786890.098
Aug 15, 20320.125 0.769050.096
Feb 15, 20330.125 0.751190.094
Aug 15, 20330.125 0.733950.092
Feb 15, 20340.125 0.716930.090
Aug 15, 20340.125 0.700410.088
Feb 15, 20350.125 0.683840.085
Aug 15, 20350.125 0.667760.083
Feb 15, 20360.125 0.651640.081
Aug 15, 20360.125 0.635850.079
Feb 15, 20370.125 0.619960.077
Aug 15, 20370.125 0.604550.076
Feb 15, 20380.125 0.589090.074
Aug 15, 20380.125 0.574090.072
Feb 15, 20390.125 0.559060.070
Aug 15, 20390.125 0.544490.068
Feb 15, 20400.125 0.529890.066
Aug 15, 20400.125 0.515660.064
Feb 15, 20410.125 0.501480.063
Aug 15, 20410.125 0.487750.061
Feb 15, 20420.125 0.474010.059
Aug 15, 20420.125 0.460700.058
Feb 15, 20430.125 0.447380.056
Aug 15, 20430.125 0.434480.054
Feb 15, 20440.125 0.421590.053
Aug 15, 20440.125 0.409040.051
Feb 15, 20450.125 0.396560.050
Aug 15, 20450.125 0.384500.048
Feb 15, 20460.125 0.372440.047
Aug 15, 20460.125 0.361800.045
Feb 15, 20470.125 0.353130.044
Aug 15, 20470.125 0.344800.043
Feb 15, 20480.125 0.336540.042
Aug 15, 20480.125 0.328570.041
Feb 15, 20490.125 0.320700.040
Aug 15, 20490.125 0.313150.039
Feb 15, 2050100.125 0.3056630.604
Sum of present values 58.029

Present values sum to the dirty price; subtract 0.085 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +55.26% 89.963
-100 bp (-1.0%) +25.0% 72.428
+100 bp (+1.0%) -19.73% 46.510
+200 bp (+2.0%) -34.2% 38.127

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (22.4 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 →
4.454.885.31Jan 2026Jun 2026

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