The yield to maturity on a bond with a current price equal to its par or face value, will always be equal to the coupon interest rate.

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When a bond's price is equal to its par or face value, it is said to be trading at "par." In this case, the yield to maturity (YTM) will always equal the coupon interest rate because the interest payments and the principal payment at maturity are equal to the price paid for the bond. Therefore, the YTM and coupon rate will be the same.

The Yield to Maturity on a Bond with a Current