Bond Price Calculator
Enter face, coupon, yield, years, and coupon frequency. The page discounts remaining cash flows to a clean price sketch. Informational, not investment advice.
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How to calculate a clean bond price
- Enter face value and the annual coupon rate printed on the bond.
- Enter the yield you want to use as the discount rate.
- Set years to maturity and coupon frequency.
- Read clean price, current yield, and coupon per period.
- Treat the figure as a cash-flow sketch, not a broker quote or investment advice.
Bond clean price
Discounted coupons plus discounted face
| Price | PV of coupons + PV of face |
|---|---|
| Coupon payment | face × coupon rate / compounds |
| Periodic yield | annual YTM / compounds |
| Premium case | Coupon rate above yield raises price above face |
| Discount case | Coupon rate below yield lowers price below face |
| Advice | Informational. Not investment advice. |
What bond price means here
This page focuses on the clean price job: turn face, coupon, yield, maturity, and frequency into a flat price from discounted cash flows. It shares the bond engine path and also reports current yield and an approximate YTM row for context.
Formulas used
Each coupon is face times the annual coupon rate divided by compounds. Periodic yield is annual yield divided by compounds. Clean price is the ordinary annuity present value of those coupons plus face discounted over the remaining periods. A zero yield sums undiscounted coupons with face.
Related money pages
The broader bond overview with the same inputs is on bond. Solving yield measures from a typed market price is on bond yield. Present-value annuity math without a face redemption sits on present value.
Use cases
Price a premium bond when the coupon sits above the market yield. Price a discount bond when yield sits above the coupon. Check homework on semiannual coupon discounting. Not a live bid or offer.
Worked example
Face $1,000, 6% coupon, 5% yield, 10 years, semiannual. Coupons exceed the discount rate, so the clean price sketch sits above par. Current yield equals annual coupon divided by that price.
Limits
No accrued interest, day-count conventions, call schedules, or tax adjustments. Informational, not investment advice. See the disclaimer. CZNull does not receive the numbers.