Bond Coupon Payment Calculator
Work out the coupon paid per period and the total annual coupon from a bond's face value, coupon rate and frequency.
輸入資料
計算結果
重點速覽：Annual coupon = face value x coupon rate; coupon per period = annual coupon / frequency. Example: face value HK$100, coupon 5%, semi-annual gives an annual coupon of HK$5 and HK$2.50 per period. WARNING: The coupon rate is based on face value, not the market price — current yield (using price) can differ. Coupons are contractual, but total return also depends on price changes and reinvestment.
計算公式
年票息 = 面值 × 票面利率。
每期票息 = 年票息 ÷ 每年派息次數。
$$\text{年票息} = F \times c$$$$\text{每期票息} = \dfrac{F \times c}{m}$$使用說明
- Enter the bond's face value and annual coupon rate.
- Enter the number of coupon payments per year.
- View the coupon per period and the annual coupon.
面值 HK$1,000、票面利率 6% 時，不同派息頻率對應的每期票息 (年票息固定為 HK$60)
| 派息頻率 | 每年次數 | 每期票息 | 全年合計 |
|---|---|---|---|
| 年付 | 1 次 | HK$60.00 | HK$60 |
| 半年付 | 2 次 | HK$30.00 | HK$60 |
| 季付 | 4 次 | HK$15.00 | HK$60 |
| 月付 | 12 次 | HK$5.00 | HK$60 |
| 半年付 (票面 4%) | 2 次 | HK$20.00 | HK$40 |
理財情境案例
案例一：半年付債券的每期票息
一張面值 HK$1,000、票面利率 6%、每年派息 2 次 (半年付) 的債券。年票息 = 1,000 × 6% = HK$60;每期票息 = 60 ÷ 2 = HK$30。
也就是每半年收到 HK$30，全年合計 HK$60。這筆現金流固定，不受你買入價格高低影響。
結論：掌握每期票息金額，方便把債券的現金流入排進個人現金流規劃 (例如用票息覆蓋定期開支)。
案例二：頻率不改總額，只改時間分佈
同一張面值 HK$1,000、票面 6% 的債券，若改為季付 (一年 4 次)，每期票息 = 60 ÷ 4 = HK$15;若改為月付 (一年 12 次)，每期 = 60 ÷ 12 = HK$5 — 但全年都仍是 HK$60。
唯一的實質差別是：月付讓你更早、更頻繁拿到現金，可提早再投資，累積下來的有效年化報酬會略高於年付。
結論：比較兩張派息頻率不同的債券時，名義票息總額相同，真正的差異要看『有效年利率』或到期殖利率 (YTM)，而非每期票息金額本身。
常見問題
What is a coupon payment?
It is the periodic interest the issuer pays on a bond, set as a percentage of face value. A 5% coupon on HK$100 face value pays HK$5 a year, split by the payment frequency.
Does the coupon depend on the market price?
No. The coupon is fixed by the coupon rate on face value. Only the current yield (coupon / price) changes with the market price. A bond bought below par shows a higher current yield than its coupon rate.
Why does frequency matter?
Frequency splits the annual coupon into periods. Semi-annual means two payments a year, which also lets you reinvest coupons sooner — a small benefit not captured by the coupon amount alone.
相關工具
參考資料
內容審核：香港計算器財經團隊。計算邏輯與公式參考香港金融管理局（HKMA）及投資者及理財教育委員會（IFEC）之個人理財計算指引，結果僅供參考，實際以相關機構公佈為準。