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TIPS Public

U.S. Treasury 0.25% TIPS due Feb 15, 2050

CUSIP 912810SM1 · 29-Year 6-Month · coupon paid semiannually

AAA·Govt
Real yield to maturity i
3.15%
real yield, off the Treasury real-yield curve
Current yield i
0.48%
Coupon i
0.25%
Modified duration i
22.0 yr
Convexity i
508.49
Indicative REAL price i
52.343
real model per 100 real par, not a tradable quote
real auctioned at 116.316 · -0.27% high yield (Aug 20, 2020) · 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
Oct 15, 2026
priced to this date (T+1 basis)
Real price i
52.385
real dirty price per 100 real par. The $ invoice = real price × CPI index ratio (not applied)
Next coupon i
Feb 15, 2027
0.125 per 100 (real coupon; actual $ scales with the CPI index ratio)

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Aug 2020par 100 · Feb 205047 coupons remaining + principal

Terms fetched

Type TIPS Treasury Inflation-Protected Securities: the principal tracks the CPI.
Term i29-Year 6-Month
Coupon i0.25% (semiannual)
Maturity iFeb 15, 2050
Issue dateAug 31, 2020
Par value i100.00
CallableNo
Amount outstanding i$8.0B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price (real) i
52.343
Dirty price (real) i
52.385
Accrued interest i
0.041
per 100 par
Yield to maturity (real) i
3.15%
Yield to worst (real) i
3.15%
Current yield i
0.48%
Modified duration i
22.0 yr
Macaulay duration i
22.3 yr
Convexity i
508.49
DV01 i
0.1151
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

47 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Feb 15, 20270.125 0.985600.123
Aug 15, 20270.125 0.964050.121
Feb 15, 20280.125 0.941160.118
Aug 15, 20280.125 0.917750.115
Feb 15, 20290.125 0.894840.112
Aug 15, 20290.125 0.873030.109
Feb 15, 20300.125 0.851550.106
Aug 15, 20300.125 0.831010.104
Feb 15, 20310.125 0.810500.101
Aug 15, 20310.125 0.790700.099
Feb 15, 20320.125 0.770700.096
Aug 15, 20320.125 0.751120.094
Feb 15, 20330.125 0.731650.091
Aug 15, 20330.125 0.712790.089
Feb 15, 20340.125 0.694180.087
Aug 15, 20340.125 0.676310.085
Feb 15, 20350.125 0.658480.082
Aug 15, 20350.125 0.641270.080
Feb 15, 20360.125 0.624100.078
Aug 15, 20360.125 0.607440.076
Feb 15, 20370.125 0.590790.074
Aug 15, 20370.125 0.574660.072
Feb 15, 20380.125 0.558570.070
Aug 15, 20380.125 0.543030.068
Feb 15, 20390.125 0.527540.066
Aug 15, 20390.125 0.512580.064
Feb 15, 20400.125 0.497670.062
Aug 15, 20400.125 0.483210.060
Feb 15, 20410.125 0.468880.059
Aug 15, 20410.125 0.455060.057
Feb 15, 20420.125 0.441280.055
Aug 15, 20420.125 0.428000.054
Feb 15, 20430.125 0.414770.052
Aug 15, 20430.125 0.402020.050
Feb 15, 20440.125 0.389330.049
Aug 15, 20440.125 0.377030.047
Feb 15, 20450.125 0.364850.046
Aug 15, 20450.125 0.353130.044
Feb 15, 20460.125 0.341450.043
Aug 15, 20460.125 0.330220.041
Feb 15, 20470.125 0.320870.040
Aug 15, 20470.125 0.312680.039
Feb 15, 20480.125 0.304590.038
Aug 15, 20480.125 0.296820.037
Feb 15, 20490.125 0.289170.036
Aug 15, 20490.125 0.281850.035
Feb 15, 2050100.125 0.2746227.496
Sum of present values 52.385

Present values sum to the dirty price; subtract 0.041 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +54.1% 80.660
-100 bp (-1.0%) +24.51% 65.171
+100 bp (+1.0%) -19.42% 42.177
+200 bp (+2.0%) -33.76% 34.673

Illustrative only: a parallel shift of the whole curve, estimated from modified duration (22.0 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 →
4.345.145.94Jan 2026Oct 2026

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