Bond Price Calculator
Calculate the theoretical value of a fixed coupon bond at the start of a coupon period using manually entered rates and remaining coupon periods.
Enter all five values yourself. Inputs stay in your browser; no yields or market quotes are fetched.
Value at the start of a coupon period, immediately after any previous coupon. The first remaining coupon is paid one full period later; the final coupon and face value are paid after N periods.
- Theoretical bond price
- Coupon per period
- Yield per period (%)
- Present value of coupons
- Present value of face value
- Years to maturity (N/m)
For fixed, equally spaced coupons and repayment of face value at maturity. Excludes settlement-date accrued interest, day-count conventions, callable or puttable bonds, floating coupons, fees and taxes. This is a theoretical calculation, not a market quote or investment advice.
Formula reference: OpenStax, Bond ValuationA QUICK WALKTHROUGH
How to use this tool
- Enter face value, annual coupon rate and annual yield to maturity.
- Enter the remaining coupon period count and number of coupon payments per year.
- Calculate and review the coupon and principal present values in the same currency as face value.
Periodic present value
F is face value; r is annual coupon percent divided by 100; Y is annual YTM percent divided by 100; m is payments per year; N is remaining coupon periods; t is years; c is coupon per period; y is yield per period; P is price. c = F × r/m; y = Y/m; N = t × m; t = N/m; P = c × [1 − (1+y)^(-N)]/y + F × (1+y)^(-N); y = 0: P = c × N + F.
Timing and limits
Value at the start of a coupon period, immediately after any previous coupon. The first remaining coupon is paid one full period later; the final coupon and face value are paid after N periods. For fixed, equally spaced coupons and repayment of face value at maturity. Excludes settlement-date accrued interest, day-count conventions, callable or puttable bonds, floating coupons, fees and taxes. This is a theoretical calculation, not a market quote or investment advice. Use one currency for all amounts. Enter rates as percentages (5 means 5%). Face value must be positive, coupon rate nonnegative, N and m positive safe integers (at most 9,007,199,254,740,991), and annual YTM divided by 100m must exceed −1. All inputs must be finite decimal numbers; use a dot as the decimal separator.
Local calculation
Enter all five values yourself. Inputs stay in your browser; no yields or market quotes are fetched.
GOOD TO KNOW
Common questions
What happens when the yield is zero?
There is no discounting: price = coupon per period × N + face value. A zero coupon rate is also supported.