Line Break in Equation with Text

I would like to include an equation, which mostly consists of text elements, however I am having trouble with aligning the last argument which spreads over two lines in order for the equation to still fit on the page.

It would be great if one could:

1. decrease the linespace between the first and second line
2. shift both lines slightly upwards such that the line space aligns with the + sign

Here's my MWE so far:

\documentclass[10pt, a4paper] {article}
\usepackage[T1]{fontenc}
\usepackage[english]{babel}
\usepackage{amsmath}

\begin{document}
\begin{align}
\begin{split}
\textit{Outperf.-Point} = \frac{\left(\textit{100\%} + \frac{\textit{(Coupon p.a.}\times \textit{Days of Accrued Interest)}}{\textit{365}} - \textit{Offer-Price}\right)\times \textit{Notional Amount}}{\textit{Conversion Ratio}} + &\textit{Price of} \\
\textit{the} & \textit{ Underlying}
\end{split}
\end{align}
\end{document}


Use gathered:

\documentclass[10pt,a4paper]{article}
\usepackage[T1]{fontenc}
\usepackage[english]{babel}
\usepackage{amsmath}

\begin{document}
$$\textit{Outperf.-Point} = \frac{\left( 100\% + \frac{ % Note: removed redundant parentheses \textit{Coupon p.a.}\times\textit{Days of Accrued Interest} }{365} - \textit{Offer-Price} \right)\times \textit{Notional Amount}} {\textit{Conversion Ratio}} + \begin{gathered} \textit{Price of} \\ \textit{the Underlying} \end{gathered}$$
\end{document}


I’ve also tidied up your code a bit: don’t use italicized numbers and parentheses.

I also add the output, so you can readily check whether it is what you asked for:

Too much vertical space between “Price of” and “the underlying”? Then try

\documentclass[10pt,a4paper]{article}
\usepackage[T1]{fontenc}
\usepackage[english]{babel}
\usepackage{amsmath}

\begin{document}
$$\textit{Outperf.-Point} = \frac{\left( 100\% + \frac{ % Note: removed redundant parentheses \textit{Coupon p.a.}\times\textit{Days of Accrued Interest} }{365} - \textit{Offer-Price} \right)\times \textit{Notional Amount}} {\textit{Conversion Ratio}} + \begin{gathered} \textit{Price of} \\[-\jot] \textit{the Underlying} \end{gathered}$$
\end{document}


And here’s the new output:

Of course, as @egreg suggests, it is even easier to use a tabular environment, like this:

\documentclass[10pt,a4paper]{article}
\usepackage[T1]{fontenc}
\usepackage[english]{babel}
\usepackage{amsmath}

\begin{document}
$$\textit{Outperf.-Point} = \frac{\left( 100\% + \frac{ % Note: removed redundant parentheses \textit{Coupon p.a.}\times\textit{Days of Accrued Interest} }{365} - \textit{Offer-Price} \right)\times \textit{Notional Amount}} {\textit{Conversion Ratio}} + \begin{tabular}{@{}c@{}} \textit{Price of} \\ \textit{the Underlying} \end{tabular}$$
\end{document}


The corresponding output, once again:

Note that the contents of the tabular would not scale with the math style, e.g., if used in superscript (but the contents of gathered would not either). Should this ever become necessary, it can be done.

• A simple tabular instead of gathered? Mar 19 '16 at 13:44
• @egreg: Oh, er… Well, yes, of course! My mind was so fixed on the “turn align into aligned” paradigm that I missed the most obvious thing. I’ll update the answer as soon as I have a moment. Thanks.
– GuM
Mar 20 '16 at 22:07

The really aesthetic solution you can obtain with use abbreviation for your text as variable in equation. If this for some reason you don't like to do, see an alternative solution:

Code is quite complicated ...

\documentclass[10pt, a4paper] {article}
\usepackage[T1]{fontenc}
\usepackage[english]{babel}
\usepackage{amsmath}

\begin{document}
\begin{align}
\binom{\textit{Outperf.-}}{\textit{Point}}
= \frac{\left[\begin{array}{c}
\textit{100\%} +
\dfrac{\displaystyle
\binom{\textit{Coupon}}{\textit{p.a.}}\times
\binom{\textit{Days of}}{\textit{Accrued Interest}}
}{\textit{365}} -
\displaystyle\binom{\textit{Offer-}}{\textit{Price}}
\end{array}\right]
\times\displaystyle
\binom{\textit{Notional}}{\textit{Amount}}
}{\textit{Conversion Ratio}} +
\binom{\textit{Price of the}}{\textit{Underlying}}
\end{align}
\end{document}