Bond Price Calculator

Your details

Choose whether to calculate the bond price from a given yield, or to find the implied yield from a known market price.
The principal amount the issuer repays at maturity, typically $1,000 for corporate bonds.
USD
The stated interest rate on the bond. A 5% coupon on a $1,000 bond pays $50 per year (or $25 semi-annually).
%
How often coupon payments are made. Most US Treasury and corporate bonds pay semi-annually.
Time remaining until the bond matures and the face value is repaid.
years
The annual return you require from the bond, reflecting current market rates and credit risk.
%
Number of days elapsed since the most recent coupon payment. Used to compute accrued interest and dirty price. Leave at 0 if pricing on a coupon date.
days
Currency
Clean priceTrading at a discount
925.61USD

Present value of all future cash flows (price excluding accrued interest)

Dirty price925.61USD
Accrued interest0USD
Coupon per period25USD
Annual coupon50USD
Macaulay duration7.895years
Modified duration7.665years
Convexity71.785
Est. price if yield +1%857.88USD
Est. price if yield -1%1,000USD
Clean price925.61
Dirty price925.61
Accrued interest0

Bond is worth $925.61 (clean price)

  • The bond is priced below par ($925.61 vs $1000.00 face value) because the market yield exceeds the coupon rate.
  • Modified duration is 7.67 years: a 1% rise in yield would decrease the price by approximately 7.67%.
  • Over the life of the bond you would receive $500.00 in coupon income plus a capital gain of $74.39, totalling $574.39.

Next stepCheck the modified duration to understand how sensitive this bond is to interest-rate changes before deciding how much to hold.

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