The coupon rate equals the YTM because the bond's price is below the par value. The coupon rate, defined by the bond price divided by the par value, is 94.55%. The coupon rate is above the YTM because the bond's price is below the par value. The coupon rate, defined as the YTM times the price, must be 5.45%. The coupon rate is below the YTM because the bond's price is below the par value