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TIPS Public

U.S. Treasury 2.12% TIPS due Feb 15, 2054

CUSIP 912810TY4 · 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
2.52%
Coupon i
2.12%
Modified duration i
19.8 yr
Convexity i
489.49
Indicative REAL price i
84.443
real model per 100 real par — not a tradable quote
real auctioned at 103.944 · 2.06% high yield (Aug 22, 2024) · 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
85.406
real dirty price per 100 real par. The $ invoice = real price × CPI index ratio (not applied)
Next coupon i
Aug 15, 2026
1.062 per 100 (real coupon; actual $ scales with the CPI index ratio)

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Aug 2024par 100 · Feb 205456 coupons remaining + principal

Terms fetched

Type TIPS Treasury Inflation-Protected Securities — principal tracks the CPI.
Term i29-Year 6-Month
Coupon i2.12% (semiannual)
Maturity iFeb 15, 2054
Issue dateAug 30, 2024
Par value i100.00
CallableNo
Amount outstanding i$9.4B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price (real) i
84.443
Dirty price (real) i
85.406
Accrued interest i
0.963
per 100 par
Yield to maturity (real) i
2.95%
Yield to worst (real) i
2.95%
Current yield i
2.52%
Modified duration i
19.8 yr
Macaulay duration i
20.1 yr
Convexity i
489.49
DV01 i
0.1689
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

56 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20261.062 0.998281.061
Feb 15, 20271.062 0.978551.040
Aug 15, 20271.062 0.958911.019
Feb 15, 20281.062 0.938410.997
Aug 15, 20281.062 0.917830.975
Feb 15, 20291.062 0.897860.954
Aug 15, 20291.062 0.878370.933
Feb 15, 20301.062 0.859120.913
Aug 15, 20301.062 0.840420.893
Feb 15, 20311.062 0.821650.873
Aug 15, 20311.062 0.803360.854
Feb 15, 20321.062 0.784340.833
Aug 15, 20321.062 0.765670.814
Feb 15, 20331.062 0.746940.794
Aug 15, 20331.062 0.728720.774
Feb 15, 20341.062 0.710830.755
Aug 15, 20341.062 0.693450.737
Feb 15, 20351.062 0.675990.718
Aug 15, 20351.062 0.659030.700
Feb 15, 20361.062 0.642010.682
Aug 15, 20361.062 0.625380.664
Feb 15, 20371.062 0.608780.647
Aug 15, 20371.062 0.592660.630
Feb 15, 20381.062 0.576490.613
Aug 15, 20381.062 0.560810.596
Feb 15, 20391.062 0.545100.579
Aug 15, 20391.062 0.529860.563
Feb 15, 20401.062 0.514600.547
Aug 15, 20401.062 0.499730.531
Feb 15, 20411.062 0.484920.515
Aug 15, 20411.062 0.470580.500
Feb 15, 20421.062 0.456240.485
Aug 15, 20421.062 0.442350.470
Feb 15, 20431.062 0.428450.455
Aug 15, 20431.062 0.415010.441
Feb 15, 20441.062 0.401580.427
Aug 15, 20441.062 0.388520.413
Feb 15, 20451.062 0.375540.399
Aug 15, 20451.062 0.362990.386
Feb 15, 20461.062 0.350470.372
Aug 15, 20461.062 0.338790.360
Feb 15, 20471.062 0.330180.351
Aug 15, 20471.062 0.321930.342
Feb 15, 20481.062 0.313750.333
Aug 15, 20481.062 0.305880.325
Feb 15, 20491.062 0.298120.317
Aug 15, 20491.062 0.290680.309
Feb 15, 20501.062 0.283310.301
Aug 15, 20501.062 0.276250.294
Feb 15, 20511.062 0.269250.286
Aug 15, 20511.062 0.262550.279
Feb 15, 20521.062 0.255900.272
Aug 15, 20521.062 0.249500.265
Feb 15, 20531.062 0.243190.258
Aug 15, 20531.062 0.237150.252
Feb 15, 2054101.062 0.2311623.361
Sum of present values 85.406

Present values sum to the dirty price; subtract 0.963 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +49.34% 126.110
-100 bp (-1.0%) +22.22% 103.210
+100 bp (+1.0%) -17.33% 69.810
+200 bp (+2.0%) -29.76% 59.310

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (19.8 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 →
4.534.925.31Jan 2026Jul 2026

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