Difference between revisions of "Documentation/How Tos/Calc: ODDLYIELD function"

Revision as of 14:31, 26 February 2009

ODDLYIELD

Returns the yield of a security, where the last interest payment is not a whole period.

Syntax:

ODDLYIELD(settlementdate; maturitydate; lastinterestdate; rate; price; redemptionvalue; frequency; basis)

settlementdate: the settlement (purchase) date of the security.

maturitydate: the maturity date of the security.

lastinterestdate: the date on which the security last pays interest.

rate: the interest rate of the security.

price: the price of the security.

redemptionvalue: the redemption value of the security per 100 currency units of face value.

frequency: number of interest payments per year (1, 2 or 4).

basis: is the calendar system to use. Defaults to 0 if omitted.

0 - US method (NASD), 12 months of 30 days each

1 - Actual number of days in months, actual number of days in year

2 - Actual number of days in month, year has 360 days

3 - Actual number of days in month, year has 365 days

4 - European method, 12 months of 30 days each

This function currently returns slightly different results to Excel.

Example:

ODDLYIELD("1990-06-01"; "1995-12-31"; "1990-01-01"; 2%; 103; 100; 4; 1)

Calc returns 0.014087886014, which is very slightly inaccurate.

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Issues:

• This function currently returns slightly different results to Excel. See issue 92177.