How to use this calculator
- Enter face value, purchase price, annual coupon (%), call redemption price, whole years to call, payments per year.
- Choose a display currency, then select Calculate. Results also update after a brief pause while you edit.
- Read the result with the assumptions below. Export details or save a second scenario to compare your choices.
Formula and method
Assumptions and limitations
Coupon-date settlement, whole coupon periods, no accrued interest/default/fees. A call is optional and this yield is not guaranteed.
Worked example
A bond bought for 1,000 with face value 1,000, a 5% annual coupon paid semiannually, and a 1,000 redemption after two years pays 25 each half-year. Discounting those four payments and redemption at 2.5% per half-year reproduces the 1,000 price. Nominal annual yield to call is 5%; effective annual yield is 5.0625%.
What the result means
Estimate yield if an ordinary fixed-coupon bond is redeemed on the chosen call date.
Common questions
How is the calculation performed?
Solve price=sum(coupon cash/(1+y/f)^k)+call redemption/(1+y/f)^N; coupon cash uses face value.
What does the model leave out?
Coupon-date settlement, whole coupon periods, no accrued interest/default/fees. A call is optional and this yield is not guaranteed.
Methodology and transparency
Calculation specification reviewed on 2026-10-14. Mathematical implementation is tested against independent reference fixtures. This does not imply review by a licensed financial professional. Read the testing and precision policy.