OddfYield

Syntax

OddfYield(Settlement, Maturity, Issue, FirstCouponDate, Rate, PresentValue, Redemption, Frequency, Basis)

Parameters

Settlement. The security's settlement date (the date of securities sell to the buyer is later than the securities issue date).

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

Issue. The security's issue date.

FirstCouponDate. The date of the first coupon payment on securities.

Rate. The interest rate for coupons on securities. Parameter value must be greater than or equal to zero.

PresentValue. The value of securities.

Redemption. The security's redemption value per $100 face value

Frequency. The annual number of coupon payments. Mandatory attribute. The parameter may take the following values:

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

Optional parameter.

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

Description

It returns the income on securities with an irregular (short or long) first period.

Comments

The value of the Settlement parameter must be less than value of the Maturity parameter.

The value of the Maturity parameter must be greater that value of the FirstCouponDate parameter.

The FirstCouponDate parameter value must be greater than the Settlement parameter value.

Example

Formula Result Description
=OddfYield("11.11.2008", "01.03.2021", "15.10.2008", "01.03.2009", 0.1075, 145.5, 200, 4, 3) 0,091

Income for securities with the odd first period at the following conditions:

  • The security's settlement date is 11.11.2008.

  • The security's maturity date is 01.03.2021.

  • The security's issue date is 15.10.2008.

  • The date of the first coupon payment on securities is 01.03.2009.

  • The interest rate is 10.75%.

  • Value of securities is 145.50.

  • The security's redemption value is 200.

  • The number of payments for coupons in a year is 4, quarterly payments.

  • The day calculation method - actual.
=OddfYield(A1, A2, A3, A4, 0.0575, 84.5, 100, 2, 0) 0,077

Income for securities with the odd first period at the following conditions:

  • The security's settlement date is specified in the A1 cell, value is 11.11.2008.

  • The security's maturity date is specified in the cell A2, value is 01.03.2021.

  • Securities issue date is specified in the A3 cell, value is 15.10.2008.

  • The date of the first coupon payment on securities is specified in the cell A4, value is 01.03.2009.

  • The interest rate is 5.75%.

  • Value of securities is 84.5.

  • The security's redemption value is 100.

  • The number of payments for coupons in a year is 2 (semi-annual payments).

  • The day calculation method - American.

See also:

Function Wizard │ Financial Functions