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TIPS Public

U.S. Treasury 1.50% TIPS due Feb 15, 2053

CUSIP 912810TP3 · 29-Year 6-Month · coupon paid semiannually

AAA·Govt
Real yield to maturity i
2.95%
real yield — off the Treasury real-yield curve
Current yield i
2.04%
Coupon i
1.50%
Modified duration i
20.5 yr
Convexity i
505.26
Indicative REAL price i
73.391
real model per 100 real par — not a tradable quote
real auctioned at 91.890 · 1.97% high yield (Aug 24, 2023) · 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
74.070
real dirty price per 100 real par. The $ invoice = real price × CPI index ratio (not applied)
Next coupon i
Aug 15, 2026
0.750 per 100 (real coupon; actual $ scales with the CPI index ratio)

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Aug 2023par 100 · Feb 205354 coupons remaining + principal

Terms fetched

Type TIPS Treasury Inflation-Protected Securities — principal tracks the CPI.
Term i29-Year 6-Month
Coupon i1.50% (semiannual)
Maturity iFeb 15, 2053
Issue dateAug 31, 2023
Par value i100.00
CallableNo
Amount outstanding i$11.0B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price (real) i
73.391
Dirty price (real) i
74.070
Accrued interest i
0.680
per 100 par
Yield to maturity (real) i
2.95%
Yield to worst (real) i
2.95%
Current yield i
2.04%
Modified duration i
20.5 yr
Macaulay duration i
20.8 yr
Convexity i
505.26
DV01 i
0.1521
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

54 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20260.750 0.998280.749
Feb 15, 20270.750 0.978550.734
Aug 15, 20270.750 0.958910.719
Feb 15, 20280.750 0.938410.704
Aug 15, 20280.750 0.917830.688
Feb 15, 20290.750 0.897860.673
Aug 15, 20290.750 0.878370.659
Feb 15, 20300.750 0.859120.644
Aug 15, 20300.750 0.840420.630
Feb 15, 20310.750 0.821650.616
Aug 15, 20310.750 0.803360.603
Feb 15, 20320.750 0.784340.588
Aug 15, 20320.750 0.765670.574
Feb 15, 20330.750 0.746940.560
Aug 15, 20330.750 0.728720.547
Feb 15, 20340.750 0.710830.533
Aug 15, 20340.750 0.693450.520
Feb 15, 20350.750 0.675990.507
Aug 15, 20350.750 0.659030.494
Feb 15, 20360.750 0.642010.482
Aug 15, 20360.750 0.625380.469
Feb 15, 20370.750 0.608780.457
Aug 15, 20370.750 0.592660.444
Feb 15, 20380.750 0.576490.432
Aug 15, 20380.750 0.560810.421
Feb 15, 20390.750 0.545100.409
Aug 15, 20390.750 0.529860.397
Feb 15, 20400.750 0.514600.386
Aug 15, 20400.750 0.499730.375
Feb 15, 20410.750 0.484920.364
Aug 15, 20410.750 0.470580.353
Feb 15, 20420.750 0.456240.342
Aug 15, 20420.750 0.442350.332
Feb 15, 20430.750 0.428450.321
Aug 15, 20430.750 0.415010.311
Feb 15, 20440.750 0.401580.301
Aug 15, 20440.750 0.388520.291
Feb 15, 20450.750 0.375540.282
Aug 15, 20450.750 0.362990.272
Feb 15, 20460.750 0.350470.263
Aug 15, 20460.750 0.338790.254
Feb 15, 20470.750 0.330180.248
Aug 15, 20470.750 0.321930.241
Feb 15, 20480.750 0.313750.235
Aug 15, 20480.750 0.305880.229
Feb 15, 20490.750 0.298120.224
Aug 15, 20490.750 0.290680.218
Feb 15, 20500.750 0.283310.212
Aug 15, 20500.750 0.276250.207
Feb 15, 20510.750 0.269250.202
Aug 15, 20510.750 0.262550.197
Feb 15, 20520.750 0.255900.192
Aug 15, 20520.750 0.249500.187
Feb 15, 2053100.750 0.2431924.502
Sum of present values 74.070

Present values sum to the dirty price; subtract 0.680 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +51.18% 110.954
-100 bp (-1.0%) +23.07% 90.318
+100 bp (+1.0%) -18.01% 60.171
+200 bp (+2.0%) -30.97% 50.660

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (20.5 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 →
4.534.925.31Jan 2026Jul 2026

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