OddlYield

Syntax

OddlYield(Settlement, Maturity, LastCouponDate, Rate, Price, 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.

LastCouponDate. The date of the last coupon payment on securities.

Rate. The security's interest rate. Parameter value must be greater than or equal to zero.

Price. The value of securities. Parameter value must be greater than or equal to zero.

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

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

Basis. The day calculation method used. It is set in the range 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 irregular (short or long) last period.

Comments

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

The Maturity parameter value must be greater than the LastCouponDate parameter value.

The LastCouponDate parameter value must be less than the Settlement parameter value.

Example

Formula Result Description
=OddlYield("20.04.2008", "15.06.2008", "24.12.2007", 0.0275, 101.82, 102, 4, 3) 0,039

Yield for securities with the odd last period at the following conditions:

  • The security's settlement date is 20.04.2008.

  • The security's maturity date is 15.06.2008.

  • The date of the last coupon payment on securities is 24.12.2007.

  • The interest rate is 2.75%.

  • Value of securities is 101.82.

  • The security's redemption value is 102.

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

  • The day calculation method - actual.
=OddlYield(A1, A2, A3, 0.0375, 99.88, 100, 2, 1) 0,045

Yield for securities with the odd last period at the following conditions:

  • The security's settlement date is specified in the A1 cell, value is 20.04.2008.

  • The security's maturity date is specified in the cell A2, value 15.06.2008.

  • The date of the last coupon payment on securities is specified in the cell A3, value 24.12.2007.

  • The interest rate is 3.75%.

  • Value of securities is 99.88.

  • 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