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TIPS Public

U.S. Treasury 2.38% TIPS due Feb 15, 2055

CUSIP 912810UH9 · 29-Year 6-Month · coupon paid semiannually

AAA·Govt
Real yield to maturity i
2.97%
real yield — off the Treasury real-yield curve
Current yield i
2.68%
Coupon i
2.38%
Modified duration i
19.8 yr
Convexity i
499.91
Indicative REAL price i
88.613
real model per 100 real par — not a tradable quote
real auctioned at 96.466 · 2.65% high yield (Aug 21, 2025) · 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
89.689
real dirty price per 100 real par. The $ invoice = real price × CPI index ratio (not applied)
Next coupon i
Aug 15, 2026
1.188 per 100 (real coupon; actual $ scales with the CPI index ratio)

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Aug 2025par 100 · Feb 205558 coupons remaining + principal

Terms fetched

Type TIPS Treasury Inflation-Protected Securities — principal tracks the CPI.
Term i29-Year 6-Month
Coupon i2.38% (semiannual)
Maturity iFeb 15, 2055
Issue dateAug 29, 2025
Par value i100.00
CallableNo
Amount outstanding i$9.9B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price (real) i
88.613
Dirty price (real) i
89.689
Accrued interest i
1.076
per 100 par
Yield to maturity (real) i
2.97%
Yield to worst (real) i
2.97%
Current yield i
2.68%
Modified duration i
19.8 yr
Macaulay duration i
20.1 yr
Convexity i
499.91
DV01 i
0.1775
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

58 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20261.188 0.998281.185
Feb 15, 20271.188 0.978551.162
Aug 15, 20271.188 0.958911.139
Feb 15, 20281.188 0.938411.114
Aug 15, 20281.188 0.917831.090
Feb 15, 20291.188 0.897861.066
Aug 15, 20291.188 0.878371.043
Feb 15, 20301.188 0.859121.020
Aug 15, 20301.188 0.840420.998
Feb 15, 20311.188 0.821650.976
Aug 15, 20311.188 0.803360.954
Feb 15, 20321.188 0.784340.931
Aug 15, 20321.188 0.765670.909
Feb 15, 20331.188 0.746940.887
Aug 15, 20331.188 0.728720.865
Feb 15, 20341.188 0.710830.844
Aug 15, 20341.188 0.693450.823
Feb 15, 20351.188 0.675990.803
Aug 15, 20351.188 0.659030.783
Feb 15, 20361.188 0.642010.762
Aug 15, 20361.188 0.625380.743
Feb 15, 20371.188 0.608780.723
Aug 15, 20371.188 0.592660.704
Feb 15, 20381.188 0.576490.685
Aug 15, 20381.188 0.560810.666
Feb 15, 20391.188 0.545100.647
Aug 15, 20391.188 0.529860.629
Feb 15, 20401.188 0.514600.611
Aug 15, 20401.188 0.499730.593
Feb 15, 20411.188 0.484920.576
Aug 15, 20411.188 0.470580.559
Feb 15, 20421.188 0.456240.542
Aug 15, 20421.188 0.442350.525
Feb 15, 20431.188 0.428450.509
Aug 15, 20431.188 0.415010.493
Feb 15, 20441.188 0.401580.477
Aug 15, 20441.188 0.388520.461
Feb 15, 20451.188 0.375540.446
Aug 15, 20451.188 0.362990.431
Feb 15, 20461.188 0.350470.416
Aug 15, 20461.188 0.338790.402
Feb 15, 20471.188 0.330180.392
Aug 15, 20471.188 0.321930.382
Feb 15, 20481.188 0.313750.373
Aug 15, 20481.188 0.305880.363
Feb 15, 20491.188 0.298120.354
Aug 15, 20491.188 0.290680.345
Feb 15, 20501.188 0.283310.336
Aug 15, 20501.188 0.276250.328
Feb 15, 20511.188 0.269250.320
Aug 15, 20511.188 0.262550.312
Feb 15, 20521.188 0.255900.304
Aug 15, 20521.188 0.249500.296
Feb 15, 20531.188 0.243190.289
Aug 15, 20531.188 0.237150.282
Feb 15, 20541.188 0.231160.275
Aug 15, 20541.188 0.225420.268
Feb 15, 2055101.188 0.2197322.234
Sum of present values 89.689

Present values sum to the dirty price; subtract 1.076 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +49.58% 132.551
-100 bp (-1.0%) +22.29% 108.367
+100 bp (+1.0%) -17.29% 73.289
+200 bp (+2.0%) -29.59% 62.395

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.