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Excel

ODDLYIELD function in Excel

Returns the yield of a security with an odd last period

=ODDLYIELD(settlement, maturity, last_interest, rate, pr, redemption, frequency, [basis])

ODDLYIELD syntax and parameters

Eight arguments, seven required.

  • settlementanyRequired

    The security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.

  • maturityanyRequired

    The security's maturity date. The maturity date is the date when the security expires.

  • last_interestanyRequired

    The security's last coupon date.

  • ratenumberRequired

    The security's interest rate

  • prnumberRequired

    The security's price.

  • redemptionnumberRequired

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

  • frequencynumberRequired

    The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.

  • basisnumberOptional

    The type of day count basis to use.

ODDLYIELD examples

Formulas you'll actually reuse.

  1. The yield of that odd-last-period bond at a price of 100.4:

    =ODDLYIELD(DATE(2030, 11, 1), DATE(2031, 3, 15), DATE(2030, 9, 15), 5%, 100.4, 100, 2, 0)

  2. From cells, with the price in H2:

    =ODDLYIELD(B2, C2, D2, E2, H2, 100, 2)

ODDLYIELD in Google Sheets

No direct equivalent — here's the way around.

Try ODDLYIELD in the playground

Edit the example — nothing to install.

Preloaded with the ODDLYIELD formula from Example 1 — change anything and watch it respond.

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Related functions

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