Coupon Payment Calculator (bond interest per payment, per year & to maturity)

Understanding the coupon payment calculator — concept and principle

This calculator finds a bond's coupon payment per period and per year, for one bond and for all the bonds you hold, the number of coupons left, the total coupons still to come and the face value repaid at maturity. Use it to plan income from bonds, check a bond's cash flows or understand coupon schedules.

Ten half-yearly coupons of $22.50 remain, then the $1,000 face value is repaid.

How it is calculated

Coupon payment per period = face value × coupon rate ÷ payments per year.
Annual coupon = face value × coupon rate.
For all bonds: multiply by the number of bonds held.
Coupons left = years to maturity × payments per year (rounded to whole payments).
Coupons still to come = coupons left × payment per period × number of bonds.
Face value repaid at maturity = face value × number of bonds.

The principle

A bond's coupon rate is fixed when it is issued and is applied to the face (par) value, not to the price you paid. So a bond bought at a premium or a discount still pays the same coupons. The yearly coupon is usually divided into equal payments, most often twice a year for corporate and government bonds in many markets. At maturity, the issuer repays the face value along with the last coupon.

Worked example

Default inputs: face value $1,000, coupon 4.5%, paid twice a year, 10 bonds, 5 years left.

Annual coupon per bond = 1,000 × 4.5% = $45.00.
Per period = 45 ÷ 2 = $22.50 per bond; $225.00 for all 10 bonds.
Annual income from all bonds = $450.00.
Coupons left = 5 × 2 = 10; coupons still to come = 10 × 225 = $2,250.00.
Face value repaid at maturity = 10 × 1,000 = $10,000.

Each point is the calculator re-run with only “Face (par) value of one bond” changed; the gold point is the default example. Change the inputs above and this chart follows your numbers.

Face (par) value of one bond	Coupon payment per period, one bond
250	$5.63
500	$11.25
750	$16.88
1,000	$22.50
1,250	$28.13
1,500	$33.75
2,000	$45.00

How to read the result

The coupons are your scheduled interest income; the face value comes back at the end if the issuer does not default. Your actual return also depends on the price you paid: buying above face value means a small loss at maturity that offsets part of the coupons. For that, look at yield to maturity.

Common mistakes

Applying the coupon rate to the market price instead of the face value.
Forgetting to divide by the number of payments per year.
Counting coupons already paid.
Ignoring taxes on interest income.

Keep in mind: Coupons depend on the issuer paying; default risk is not included. Taxes on interest are not deducted. This is not investment advice.

Frequently asked questions

What is a coupon payment?

The periodic interest a bond pays, based on its face value and coupon rate.

Does the coupon change if the bond price changes?

No. The coupon is fixed at issue; only the yield you earn changes with the price.

How often are coupons paid?

It depends on the bond; twice a year is common, but annual, quarterly and monthly payments exist.

Sources: U.S. SEC, Investor Bulletin "What Are Corporate Bonds?" (2013) · FINRA, "Understanding Bond Yield and Return" (2022)

Checked 9 Nov 2026. US SEC Investor Bulletin “What Are Corporate Bonds?” (SEC Pub. No. 149, 2013): interest payments are coupon payments at the coupon rate; FINRA, “Understanding Bond Yield and Return” (11 Aug 2022): $45 a year on a $1,000 bond is a 4.5% coupon; S. G. Buell, Lehigh University, “Bond Valuation” notes: semi-annual coupon = coupon rate × par ÷ 2.

Your numbers