basic

Bond Yield to Call (YTC) Approximation Calculator

YTC ≈ (C + (CallPrice − P) / n) / ((CallPrice + P) / 2).

Compute the approximate yield-to-call of a callable bond using the standard textbook formula: YTC ≈ (annual_coupon + (call_price − bond_price) / years_to_call) / ((call_price + bond_price) / 2). Compares with the bond's stated coupon yield.

Nadia Almasri By Nadia Almasri
Published Last reviewed 1 min read

Inputs

$
%
$
$
yr

Results

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How to use this calculator

  1. Fill in the inputs above using the units you already have.
  2. Values update automatically as you type — no submit button needed.
  3. Hover any result row for the underlying formula and intermediate values.

Formula

YTC ≈ (C + (CallPrice − P) / n) / ((CallPrice + P) / 2)

In depth

Compute the approximate yield-to-call of a callable bond using the standard textbook formula: YTC ≈ (annual_coupon + (call_price − bond_price) / years_to_call) / ((call_price + bond_price) / 2). Compares with the bond's stated coupon yield.