What does BOND EQUIVALENT YIELD mean?

BOND EQUIVALENT YIELD meaning in Law Dictionary

measure that converts the GIVE of a FIXED INCOME rebate instrument into regards to a regular COUPON tool, allowing appropriate contrast of investment options. Its usually computed via: where Face is FACE VALUE, P is price, n, could be the range days in the year after issuance, and nMAT could be the number of times until maturity. See additionally DISCOUNT YIELD, EASY YIELD, TAXABLE EQUIVALENT GIVE, YIELD TO CALL, GIVE TO MATURITY.