Documentation/How Tos/Calc: ODDFYIELD function

ODDFYIELD

Returns the yield of a security, where the time to the first interest payment is not a whole period.

Syntax:

ODDFYIELD(settlementdate; maturitydate; issuedate; firstinterestdate; rate; price; redemptionvalue; frequency; basis)

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

maturitydate: the maturity date of the security.

issuedate: the issue date of the security.

firstinterestdate: the date on which the security first 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 invalid results.

Example:

ODDFYIELD("1990-06-01"; "1995-12-31"; "1990-01-01"; "1990-12-31"; 6%; 790; 100; 1; 1)

Calc incorrectly returns an error.

Issues:

• This function currently returns invalid results. See issue 92177.