[Table of Contents] [docx version]

SpreadsheetML Reference Material - Table of Contents

ODDFYIELD

Syntax:

ODDFYIELD ( settlement , maturity , issue , first-coupon , rate , pr , redemption ,
frequency [ , [ basis ] ] )

Description: Computes the yield of a security that has an odd (short or long) first period.

Arguments:

Name

Type

Description

settlement

number

The security's settlement date.

maturity

number

The security's maturity date.

issue

number

The security's issue date.

first-coupon

number

The security's first coupon date.

rate

number

The security's interest rate.

pr

number

The security's price.

redemption

number

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

frequency

number

the number of coupon payments per year. (For annual payments, frequency is 1; for semiannual payments, frequency is 2; for quarterly payments, frequency is 4.)

basis

number

The truncated integer type of day count basis to use, as follows:

Value

Day Count Basis

0 or omitted

US (NASD) 30/360

1

Actual/actual

2

Actual/360

3

Actual/365

4

European 30/360

 

 

Time information in the date arguments is ignored.

Return Type and Value: number – The yield of a security that has an odd (short or long) first period.

However, if

settlement, maturity, issue, or first-coupon is out of range for the current date base value, #NUM! is returned.

The following is not true: maturity is later than first-coupon, which is later than settlement, which is later than issue, so #NUM! is returned.

rate or pr < 0, #NUM! is returned.

frequency is any number other than 1, 2, or 4, #NUM! is returned.

basis < 0 or basis > 4, #NUM! is returned.

[Example:

ODDFYIELD(DATE(2008,11,11),DATE(2021,3,1),DATE(2008,10,15),DATE(2009,3,1),
0.0575,84.5,100,2,0) results in 7.7246%

end example]