Summary
- The after-inflation yield was 21 basis points higher than the originating auction in January.
- Because this TIPS has a coupon rate of 0.5%, buyers got it at a discount: about $97.93 for $100.43 of value, after accrued inflation is added in.
- The inflation breakeven rate was 2.07%, indicating this TIPS is fairly priced against a nominal Treasury of the same term.
Treasury Inflation-Protected Securities 
I am a dedicated I-bonder and to a lesser extent EE-bonder. TIPS are interesting and confusing. I have avoided them…