# Documentation/Calc Functions/ODDLYIELD Under construction. For now, see the system Help files.

ODDLYIELD

## Category:

Financial Analysis

## Summary:

Calculates the yield of a security if the last interest date falls irregularly.

## Syntax:

ODDLYIELD(Settlement; Maturity; Last Interest; Rate; Price; Redemption; Frequency; Basis)

## Arguments:

Settlement is the date of purchase of the security.

Maturity is the date on which the security matures (expires).

Last Interest is the last interest date of the security.

Rate is the annual rate of interest.

Price is the price of the security. Redemption is the redemption value per 100 currency units of par value.

Frequency is number of interest payments per year (1, 2 or 4).

Basis (optional) is chosen from a list of options and indicates how the year is to be calculated.

Basis Calculation
0 or missing US method (NASD), 12 months of 30 days each
1 Exact number of days in months, exact number of days in year
2 Exact number of days in month, year has 360 days
3 Exact number of days in month, year has 365 days
4 European method, 12 months of 30 days each

## Examples:

Settlement date: April 20 1999, maturity date: June 15 1999, last interest: October 15 1998. Interest rate: 3.75 per cent, price: 99.875 currency units, redemption value: 100 currency units, frequency of payments: half-yearly = 2, basis: = 0

The yield of the security, that has an irregular last interest date, is calculated as follows:

=ODDLYIELD("1999-04-20";"1999-06-15"; "1998-10-15"; 0.0375; 99.875; 100;2;0) returns 0.044873 or 4.4873%.