The disclosed embodiments related to a clocked memory system which performs a calibration operation at a full-rate frequency to determine a full-rate calibration state that specifies a delay between a clock signal and a corresponding data signal in the clocked memory system. Next, the clocked memory system uses the full-rate calibration state to calculate a sub-rate calibration state, which is associated with a sub-rate frequency (e.g., 1/2, 1/4 or 1/8 of the full-rate frequency). The system then uses this sub-rate calibration state when the clocked memory system is operating at the sub-rate frequency. This calculation of the sub-rate state calibration states eliminates the need to perform an additional time-consuming calibration operation for each sub-rate.