TIPS Public

U.S. Treasury 0.12% TIPS due Jan 15, 2031

CUSIP 91282CBF7 · 9-Year 8-Month · coupon paid semiannually

AAA·Govt

Real yield to maturity i

1.96%

real yield — off the Treasury real-yield curve

Current yield i

0.14%

Coupon i

0.12%

Modified duration i

4.5 yr

Convexity i

22.67

Indicative REAL price i

91.997

real model per 100 real par — not a tradable quote

real auctioned at 111.149 · -0.81% high yield (May 20, 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

92.050

real dirty price per 100 real par. The $ invoice = real price × CPI index ratio (not applied)

Next coupon i

Jul 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

Terms fetched

Type	TIPS Treasury Inflation-Protected Securities — principal tracks the CPI.
Term i	9-Year 8-Month
Coupon i	0.12% (semiannual)
Maturity i	Jan 15, 2031
Issue date	May 28, 2021
Par value i	100.00
Callable	No
Amount outstanding i	$30.3B
Credit	AAA·Govt

Look up on TreasuryDirect

Computed metrics computed

Clean price (real) i

91.997

Dirty price (real) i

92.050

Accrued interest i

0.053

per 100 par

Yield to maturity (real) i

1.96%

Yield to worst (real) i

1.96%

Current yield i

0.14%

Modified duration i

4.5 yr

Macaulay duration i

4.6 yr

Convexity i

22.67

DV01 i

0.0416

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

10 payments, discounted off today's curve

Date	Cash flow	Discount factor	Present value
Jul 15, 2026	0.062	0.99730	0.062
Jan 15, 2027	0.062	0.97774	0.061
Jul 15, 2027	0.062	0.95820	0.060
Jan 15, 2028	0.062	0.93778	0.059
Jul 15, 2028	0.062	0.91740	0.057
Jan 15, 2029	0.062	0.89842	0.056
Jul 15, 2029	0.062	0.88009	0.055
Jan 15, 2030	0.062	0.86155	0.054
Jul 15, 2030	0.062	0.84361	0.053
Jan 15, 2031	100.062	0.82566	82.618
Sum of present values			92.050

Present values sum to the dirty price; subtract 0.053 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity

Parallel rate move	Approx. price change	Approx. indicative price
-200 bp (-2.0%)	+9.48%	100.722
-100 bp (-1.0%)	+4.63%	96.255
+100 bp (+1.0%)	-4.4%	87.947
+200 bp (+2.0%)	-8.58%	84.106

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (4.5 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 →

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