Calculadora de Obrigações

Yield to maturity is the annualized return implied by the bond price if the bond is held until maturity and all scheduled coupon and principal payments are received. It combines coupon income with any gain or loss between the purchase price and face value.

Clean price is the quoted bond price before accrued interest. Dirty price adds the interest earned since the last coupon date, so it is closer to the cash amount paid at settlement.

A zero-coupon bond pays no periodic interest. It is priced as a discounted lump sum: the lower the price relative to face value, the higher the implied yield to maturity. Select the Zero-coupon preset in the Bond Valuation Calculator and enter face value, yield, and time to maturity to see the price.

Yes. Treasury bonds and notes pay a fixed coupon, so you can use the standard Bond Valuation Calculator mode to find their price or yield to maturity, or the Zero-coupon preset for a Treasury STRIPS. Use the Bond Pricing Calculator mode if you need clean price, dirty price, and accrued interest for a settlement date between coupon dates.