Bond price and yield calculator
Price a fixed-coupon bond from a yield, or solve for yield to maturity from a price — on a coupon date, with the assumptions stated.
Result: Price = 1,044.91
Inputs
Face value, annual coupon rate, years to maturity and coupon frequency. The yield is a nominal annual rate compounded at the coupon frequency (for semiannual bonds: the bond-equivalent yield).
How it calculates
Per period: coupon = face × coupon rate / frequency, yield = annual yield / frequency, periods = years × frequency. Price = present value of the coupons plus the discounted face value.
Worked example
Face 1,000, 5% semiannual coupon, 5 years. At a 4% yield the price is 1,044.91. At 5% it is exactly 1,000 (par). At a price of 950 the yield is 6.18%.
Assumptions and limits
Valuation on a coupon date only: no accrued interest, no settlement dates, no day-count conventions and no clean/dirty split, so maturity must be a whole number of coupon periods. Option-free bonds, all payments in full. Not investment advice.
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