YieldMat

Syntax

YieldMat(Settlement, Maturity, Issue, Rate, Price[, Basis])

Parameters

Settlement. The security's settlement date. This date is later than the issue date (the date when the securities were sold to the buyer).

Maturity. The security's maturity date. The maturity date is the date when the security expires.

Issue. The security's issue date.

Rate. Annual interest rate for coupons on securities. Value of this parameter must be greater or equal to zero.

Price. The security's price per $100 face value. Value of this parameter must be greater than zero.

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

Optional parameter.

NOTE. To determine the parameter, specify either the parameter value or the cell address where it is located.

Description

It returns the annual yield of a security that pays interest at maturity.

Comments

The Settlement parameter value should not be less or equal to the Maturity parameter value.

The agreement date is the date when a coupon (for instance, a bond) was sold to a buyer. Term of payment is the coupon expiration date.

Example

Formula Result Description
=YieldMat("01.01.2008", "01.06.2008", "01.10.2007", 0.15, 145.8, 0) 0,18

Annualized security gain based on the following conditions:

  • The calculation date is 01.01.2008.

  • The maturity date is 01.06.2008.

  • The issue date is 01.10.2007.

  • The interest rate is 0.15.

  • The price per $100 face value is 98.47.

  • The used method of day calculation - American.
=YieldMat(A0, B0, C0, 0.05, 105.47) -0,02

Annualized security gain based on the following conditions:

  • The calculation date is specified in the A0 cell, value is 01.01.2007.

  • The maturity date is specified in the B0 cell, value is 01.10.2007.

  • The issue date is specified in the C0 cell, value is 01.10.2006.

  • The annual interest rate is 0.05.

  • The price per $100 face value is 105.47.

  • The used method of day calculation - American.

See also:

Function Wizard │ Financial Functions │ YieldF