What is Yield to Call?
Yield to Call (YTC) estimates the annualized return an investor would earn on a callable bond if it is redeemed by the issuer at its call price on the call date, rather than held to maturity.
The Formula
This calculator uses the common approximate-yield formula: YTC ≈ (Annual Coupon + ((Call Price – Current Price) ÷ Years to Call)) ÷ ((Call Price + Current Price) ÷ 2). It’s a widely used estimate; exact YTC requires iterative present-value calculations.
Note: This is an approximation for general educational purposes only and is not investment advice.
Last reviewed August 2026