Bond Calculator – Price, Yield & Coupon Analysis
Calculate bond price, current yield, and total coupon income. Free bond calculator for fixed income analysis.
Last updated: 2026-03-09
Bond price and yield calculator
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Example calculations
Tap an example to prefill the calculator with sample values.
10-Year Treasury
Corporate Bond
Zero Premium Bond
How Bond Pricing Works
A bond's price is the present value of all its future cash flows: the periodic coupon payments plus the face value returned at maturity.
Bond Price = C × [1 − (1+y)^−n] / y + F / (1+y)^n
Where C = annual coupon, y = market yield, n = years to maturity, and F = face value. When market yield is below the coupon rate, the bond trades at a premium (above face value). When yield is above the coupon rate, it trades at a discount.
Current yield = Annual Coupon / Bond Price. This differs from Yield to Maturity (YTM), which also accounts for capital gains or losses if held to maturity.
Bond calculator FAQs
Answers to common questions about bond pricing and yields.
What is the difference between coupon rate and yield?
Coupon rate is the fixed annual interest rate the bond pays on its face value. Yield (or yield to maturity) is the total return you'll earn if you hold the bond to maturity, accounting for the price you paid. They only match when the bond trades at par (face value).
Why do bond prices go down when interest rates go up?
When new bonds offer higher yields, existing bonds with lower coupons become less attractive. Investors will only buy them at a discount, pushing the price down until the effective yield matches the market.
What does it mean when a bond trades at a premium?
A premium bond trades above face value because its coupon rate is higher than the current market yield. You pay more upfront but receive higher coupon payments. At maturity, you get back only the face value.
Is this calculator suitable for zero-coupon bonds?
Yes — set the coupon rate to 0%. The calculator will price the bond based solely on the present value of the face value at maturity, which is exactly how zero-coupon bonds work.
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