ODDLYIELD Function Explained
The ODDLYIELD Function in Microsoft Excel calculates the odd yield of a security that has an odd first period. It takes three arguments: settlement, maturity, and issue. The settlement argument is the security’s settlement date, the maturity argument is the security’s maturity date, and the issue argument is the security’s issue date. The function returns the odd yield of the security.
ODDLYIELD Function Syntax
ODDLYIELD(settlement, maturity, issue, first_coupon, rate, pr, redemption, frequency, [basis])
- settlement: The security’s settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
- maturity: The security’s maturity date. The maturity date is the date when the security expires.
- issue: The security’s issue date.
- first_coupon: The security’s first coupon date.
- rate: The security’s interest rate.
- pr: The security’s price.
- redemption: The security’s redemption value per $100 face value.
- frequency: The number of coupon payments per year.
- basis: (Optional) The type of day count basis to use. The default is 0 (US (NASD) 30/360).