Yield to Maturity vs. Coupon Rate: Key Differences Explained

Yields in Finance: Formula, Types, and What It Tells You

The lowest of the sequence of yields -to-Call and Yield-to-Maturity is known as yield to worst. The price of a callable bond is lower than the price of otherwise similar risk and maturity non-callable bond. The price that investors would have paid if the bond was not callable is called Option Adjusted Price and the yield calculated from the option adjusted price is called option adjusted yield. The Option Adjusted Yield minus the yield for the benchmark bond is called Option Adjusted Spread. | P

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Yield to Maturity (YTM): What It Is and How It Works

Yield Curve: What It Is, How It Works, and Types

Calculate Yield to Maturity for Zero-Coupon Bonds Easily