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ODDLYIELD

This function calculates the yield of a security with an odd last period.

Syntax

ODDLYIELD(settle, maturity, last, rate, price, redeem, freq, [basis])

Arguments

This function has these arguments:

Argument

Description

settle

[Required] Settlement date for the security

maturity

[Required] Maturity date for the security

last

[Required] Last coupon date

rate

[Required] Annual interest rate

price

[Required] Price of the security

redeem

[Required] Redemption value per $100 face value for the security

freq

[Required] Frequency of payment, number of payments per year

basis

[Optional] Integer representing the basis for day count

Remarks

This function returns a #VALUE! error when settle, maturity, or last is invalid. Settle, maturity, last, and basis are truncated to integers.

  • If rate is less than 0 or price is less than or equal to 0, a #NUM! error is returned.

  • If basis is less than 0 or greater than 4, a #NUM! error is returned.

Maturity should be greater than settle which should be greater than last. Otherwise a #NUM! error is returned.

Examples

ODDLYIELD(G1,G2,G3,G4,G5,G6,G7,G8)