Bond Calculator
Value a fixed-rate coupon bond traded on the coupon date. Enter face value, coupon rate, maturity and either the market yield (to price the bond) or the market price (to solve the yield to maturity iteratively), with a full cash-flow discounting table.
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TheCalculators — Bond Calculator
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Bond Price
97.3270
100 face · 5.00% coupon · 3.0 yr · 6.00% yield (annual coupons)
- Price per 100 Face
- 97.3270
- Trading
- At a discount
- Coupon per Period
- 5.0000
- Annual Coupon Income
- $5.00
- Current Yield
- 5.137%
- Number of Periods
- 3
Pricing by discounting cash flows
- 1Coupon per period$100.00 × 5.00% ÷ 1 = 5.0000
- 2Discount rate per period6.00% ÷ 1 = 6.0000%
- 3Present valuePrice = Σ couponₜ / (1+r)^t + face / (1+r)^N — each future payment discounted back to today
- 4Why premium/discount?Coupon > yield → price above face; coupon < yield → price below face. Price converges to face at maturity.
Cash flows and present values
Most useful next
Formula
Price = Σ C/(1+r)^t + F/(1+r)^N
- • C = coupon payment per period (face × coupon% ÷ k)
- • r = yield per period (annual yield ÷ k)
- • N = periods to maturity (years × k)
- • F = face value repaid at maturity
Pro tips
- • Bond prices move inversely to yields: when rates rise, existing lower coupons trade at a discount.
- • Longer maturities amplify price sensitivity to rate changes (duration risk).
- • The calculators assume fixed coupons and ignore credit risk, calls and liquidity.
FAQ
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