Bond price · fixed coupon
Bond price · fixed coupon: use face value, annual coupon rate, nominal annual yield. Review the formula, worked example and calculation steps.
Inputs
Use the units shown—
Enter your values and select Calculate.
Formula & explanation
Price = coupon × [1−(1+y)⁻ⁿ]/y + face/(1+y)ⁿ
Variables & units
- Face value
- currency · minimum 0.01, maximum 1000000000000
- Annual coupon rate
- % · minimum 0, maximum 100
- Nominal annual yield
- % · minimum 0, maximum 100
- Years to maturity
- Numeric value · minimum 1, maximum 100
- Coupon payments per year
- Select an option
Worked example
A 1,000 face value bond with coupon rate equal to yield is priced at 1,000 on a coupon date.
Assumptions
Valuation exactly on a coupon date. Excludes accrued interest, default risk, embedded options and day-count conventions.
Formula version 1.0.0. JavaScript floating-point arithmetic applies. Results display up to 6 decimal places; stored values retain available precision. Use the units shown.
Practice with an example
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