Correct
The sentence tengo que esperar por el autobus can be translated as I have to wait for the bus. In this way, tengo is the conjugation of the verb tener that matches the first person singular in the preterite tense. This person is yo in Spanish and translates into I in English. Moreover, esperar is an infinitive verb and autobús is a masculine singular noun that means bus, that's why we choose the masculine singular definite article before this noun. Finally, por is a preposition that translates into for here.