Make-Whole Call Price Calculator
Redemption price under a make-whole call: remaining cash flows discounted at Treasury + make-whole spread.
Formula
A make-whole call lets issuers redeem any time but at a price so generous (discounting at near-Treasury rates) that exercise is rare except in M&A. Unlike fixed-price calls it doesn't cap the bond's upside — which is why make-whole bonds trade with almost no negative convexity.
Not financial advice — for informational and analytical use only. Verify all figures with a qualified professional before acting on them.
Need make-whole call price calculator results fast? Analysts, founders, traders and finance professionals use the Make-Whole Call Price Calculator to skip the spreadsheet and get a defensible answer in one step — free, private and instant.
About Make-Whole Call Price Calculator
Redemption price under a make-whole call: remaining cash flows discounted at Treasury + make-whole spread. A make-whole call lets issuers redeem any time but at a price so generous (discounting at near-Treasury rates) that exercise is rare except in M&A. Unlike fixed-price calls it doesn't cap the bond's upside — which is why make-whole bonds trade with almost no negative convexity. The governing relationship is call price = max(par, PV of CFs at T + MW spread). The Make-Whole Call Price Calculator computes entirely in your browser — free, private (your figures never leave your device) and instant, recalculating live as you change any input.
How to use Make-Whole Call Price Calculator
- 1Enter Face value (currency), Coupon rate (%), Years remaining, Reference Treasury yield (%), Make-whole spread (bp) into the Make-Whole Call Price Calculator.
- 2The result is computed automatically using call price = max(par, PV of CFs at T + MW spread) — there is no button to press.
- 3Change any input to model a different scenario, then copy or share the result.
Why use Make-Whole Call Price Calculator?
- ✓Computes make-whole call price calculator instantly with the correct formula — no spreadsheet needed
- ✓100% free and unlimited, with no sign-up, login or paywall
- ✓Runs entirely in your browser, so the figures you enter stay private
- ✓Shows the formula, a live worked example and references so you can defend the number
Frequently asked questions
What is the formula behind the Make-Whole Call Price Calculator?+
Make-Whole Call Price Calculator uses call price = max(par, PV of CFs at T + MW spread). A make-whole call lets issuers redeem any time but at a price so generous (discounting at near-Treasury rates) that exercise is rare except in M&A. The tool substitutes your actual inputs into this relationship and shows the worked example step by step.
What inputs does the Make-Whole Call Price Calculator need?+
Enter Face value (currency), Coupon rate (%), Years remaining, Reference Treasury yield (%), Make-whole spread (bp) and the result updates immediately — there is no button to press. Change any value to model a different scenario in real time.
Is the Make-Whole Call Price Calculator free, and is my data private?+
Yes — it is completely free with no sign-up or usage limit, and it runs entirely in your browser, so the numbers you enter are never uploaded or stored on any server. It is for informational and analytical use, not financial advice.
What should I watch out for when using the Make-Whole Call Price Calculator?+
Unlike fixed-price calls it doesn't cap the bond's upside — which is why make-whole bonds trade with almost no negative convexity.
What is the Make-Whole Call Price Calculator based on?+
The method follows authoritative sources: Standard indenture make-whole provisions; Fabozzi. The formula and references are shown on the page so you can verify and cite the result.
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