This bond's coupon rate is 6.00%.
Considering the values provided in the question,
Annual coupon payment = $60
Par value of the bond = $1000
Coupon rate for the bond = (Annual coupon payment / Par value of the bond) × 100
= ($60 / $1000) × 100
= 6.00%
Therefore, The coupon rate for this bond is 6.00%.
The set yearly rate that a guaranteed-income instrument, often a bond, pays its holder or owner is known as the coupon rate. It is based on the bond's face value at the time of issuance, sometimes referred to as its "par value" or principal.
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