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TIPS Public

U.S. Treasury 0.12% TIPS due Feb 15, 2051

CUSIP 912810SV1 · 29-Year 6-Month · coupon paid semiannually

AAA·Govt
Real yield to maturity i
2.68%
real yield — off the Treasury real-yield curve
Current yield i
0.23%
Coupon i
0.12%
Modified duration i
23.8 yr
Convexity i
585.95
Indicative REAL price i
54.078
real model per 100 real par — not a tradable quote
real auctioned at 117.718 · -0.29% high yield (Aug 19, 2021) · 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
54.121
real dirty price per 100 real par. The $ invoice = real price × CPI index ratio (not applied)
Next coupon i
Aug 15, 2026
0.062 per 100 (real coupon; actual $ scales with the CPI index ratio)

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Aug 2021par 100 · Feb 205150 coupons remaining + principal

Terms fetched

Type TIPS Treasury Inflation-Protected Securities — principal tracks the CPI.
Term i29-Year 6-Month
Coupon i0.12% (semiannual)
Maturity iFeb 15, 2051
Issue dateAug 31, 2021
Par value i100.00
CallableNo
Amount outstanding i$9.0B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price (real) i
54.078
Dirty price (real) i
54.121
Accrued interest i
0.042
per 100 par
Yield to maturity (real) i
2.68%
Yield to worst (real) i
2.68%
Current yield i
0.23%
Modified duration i
23.8 yr
Macaulay duration i
24.1 yr
Convexity i
585.95
DV01 i
0.1286
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

50 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20260.062 0.994140.062
Feb 15, 20270.062 0.974420.061
Aug 15, 20270.062 0.954800.060
Feb 15, 20280.062 0.934290.058
Aug 15, 20280.062 0.914170.057
Feb 15, 20290.062 0.895260.056
Aug 15, 20290.062 0.876950.055
Feb 15, 20300.062 0.858460.054
Aug 15, 20300.062 0.840570.053
Feb 15, 20310.062 0.822670.051
Aug 15, 20310.062 0.805090.050
Feb 15, 20320.062 0.786890.049
Aug 15, 20320.062 0.769050.048
Feb 15, 20330.062 0.751190.047
Aug 15, 20330.062 0.733950.046
Feb 15, 20340.062 0.716930.045
Aug 15, 20340.062 0.700410.044
Feb 15, 20350.062 0.683840.043
Aug 15, 20350.062 0.667760.042
Feb 15, 20360.062 0.651640.041
Aug 15, 20360.062 0.635850.040
Feb 15, 20370.062 0.619960.039
Aug 15, 20370.062 0.604550.038
Feb 15, 20380.062 0.589090.037
Aug 15, 20380.062 0.574090.036
Feb 15, 20390.062 0.559060.035
Aug 15, 20390.062 0.544490.034
Feb 15, 20400.062 0.529890.033
Aug 15, 20400.062 0.515660.032
Feb 15, 20410.062 0.501480.031
Aug 15, 20410.062 0.487750.030
Feb 15, 20420.062 0.474010.030
Aug 15, 20420.062 0.460700.029
Feb 15, 20430.062 0.447380.028
Aug 15, 20430.062 0.434480.027
Feb 15, 20440.062 0.421590.026
Aug 15, 20440.062 0.409040.026
Feb 15, 20450.062 0.396560.025
Aug 15, 20450.062 0.384500.024
Feb 15, 20460.062 0.372440.023
Aug 15, 20460.062 0.361800.023
Feb 15, 20470.062 0.353130.022
Aug 15, 20470.062 0.344800.022
Feb 15, 20480.062 0.336540.021
Aug 15, 20480.062 0.328570.021
Feb 15, 20490.062 0.320700.020
Aug 15, 20490.062 0.313150.020
Feb 15, 20500.062 0.305660.019
Aug 15, 20500.062 0.298470.019
Feb 15, 2051100.062 0.2913429.152
Sum of present values 54.121

Present values sum to the dirty price; subtract 0.042 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +59.25% 86.120
-100 bp (-1.0%) +26.7% 68.515
+100 bp (+1.0%) -20.84% 42.811
+200 bp (+2.0%) -35.81% 34.712

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (23.8 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.