As stated by the US Treasury:
With a rise in the index, or inflation, the principal increases. With a fall in the index, or deflation, the principal decreases.
I'm curious why a TIPS (912828QV5) bond maturing on 07/15/2021 (in 2 months) is priced at $101.22, when the index ratio is 1.18456. Isn't this bond going to be paying out $118.56 at maturity? What am I missing?