Corporate Bond online gross redemption yield calc

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Tom99
Tom99 Posts: 5,371 Forumite
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in Savings & investments
[FONT=Verdana, sans-serif]Is there such a thing as an online calculator which will give me the accurate gross redemption yield of a specific bond I might want to buy or sell including the accrued interest to today's date that you will pay or receive?

[/FONT] [FONT=Verdana, sans-serif]For example say I hold and want to sell the following bond:

[/FONT]
  • [FONT=Verdana, sans-serif]British Telecom 8.625% SNR 26/03/2020 GBP (33GL)[/FONT]
  • [FONT=Verdana, sans-serif]Number of shares held lets say 8,000[/FONT]
  • [FONT=Verdana, sans-serif]Expected net sale price after dealing fees lets say £9,000[/FONT]
[FONT=Verdana, sans-serif]
I know I can do this in a spreadsheet but it would be nice to be able to double check my figures.[/FONT]

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  • bowlhead99
    bowlhead99 Posts: 12,295 Forumite
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    fixedincomeinvestor.co.uk has that one at a gross redemption yield of 1.457%
    https://www.fixedincomeinvestor.co.uk/x/bondchart.html?id=413&stash=F69FAA18&groupid=4

    They have a yield calculator tab at https://www.fixedincomeinvestor.co.uk/x/yieldcalc.html

    Obviously they are going off market price rather than your actual price including dealing fees etc but you could modify the price in the calculator to end up at what you actually pay per bond.

    As an aside, they have a variety of tables of prices/ yields for different classes of bonds (e.g.) https://www.fixedincomeinvestor.co.uk/x/bondtable.html?groupid=4 which can be handy for research but as they note in the caveats the figures used might be simplified and not account for quirks such as calls/prepayments or other redemption options.
  • Tom99
    Tom99 Posts: 5,371 Forumite
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    edited 14 March 2018 at 8:57AM
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    [FONT=Verdana, sans-serif]Thanks for that, it looks just the thing I am looking for. Does the yield quoted include the accrued interest to date it looks like it does?

    [/FONT] [FONT=Verdana, sans-serif]It looks like I would have to adjust the price in the calculator, I don't think just taking a pro rata of my price works.

    Also is the price I use the price excluding accrued interest or including?
    [/FONT]
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