IFinance.OddfYield

Syntax

OddfYield(Settlement: DateTime; Maturity: DateTime; Issue: DateTime; FirstCouponDate: DateTime; Rate: Double; PresentValue: Double; Redemption: Double; Frequency: Integer; [Basis: Integer = 0]): Double;

Parameters

Settlement. The payment day on securities. Must be greater than Issue.

Maturity. The security's maturity date. Must be greater than FirstCouponDate.

Issue. The security's issue date. Must be less than Settlement

FirstCouponDate. Securities first coupon date. Must be greater than Settlement.

Rate. Annual interest rate for coupons on securities. Must be positive.

PresentValue. The value of securities. Must be positive.

Redemption. The security's redemption price per $100 face value. Must be positive.

Frequency. The annual number of coupon payments. The parameter can take the following values:

1. Annual payments.
2. Semi-annual payments.
4. Quarterly payments.

Basis. The day calculation method used. Select a value from 0 to 4:

0. Day calculation method - American/360 days (NSAD method). Default value.
1. Day calculation method - Actual/actual.
2. Day calculation method - Actual/360 days.
3. Day calculation method - Actual/365 days.
4. Day calculation method - European 30/360 days.

Optional parameter.

Description

The OddfYield method returns profit for securities with irregular - short or long - first period.

Comments

To get a price for 100$ of nominal securities value for irregular - short or long - first period, use the IFinance.OddfPrice method.

Example

Add a link to the MathFin system assembly.

Sub UserProc;
Var
    r: Double;
Begin
    r := Finance.OddfYield(DateTime.ComposeDay(2008,11,11), DateTime.ComposeDay(2021,03,01),
        DateTime.ComposeDay(2008,10,15), DateTime.ComposeDay(2009,03,01), 0.1075, 145.5, 200, 4, 3);
    Debug.WriteLine(r);
End Sub UserProc;

After executing the example the console window displays the profit equal to 9.07%.