From ZCubes Wiki
Jump to navigation Jump to search
YIELD (Settlement,MaturityDate,Rate,Price,RedemptionValue,Frequency,Basis)

  • where is security's settlement date (a date when coupon or a bond is purchased),
  • is security's maturity date (a date when coupon or a bond expires),
  • is security's annual coupon rate,
  • is the price per $100 face value,
  • is security's redemption value per $100 face value,
  • is the number of coupon payments per year, and
  • is the type of day count basis to use.
    • YIELD(), returns the yield on a security that pays periodic interest.


YIELD (Settlement,MaturityDate,Rate,Price,RedemptionValue,Frequency,Basis)

  • Yield is the annual percentage return on an investment or security. Yield is the value obtained by dividing Annual Interest by Bond Price.


If B= Number of days from beginning of coupon period to settlement date,
   C= Number of days in coupon period,
   N= Number of days from settlement date to redemption date
  • and dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
  • If date = date, Calci displays #N/A error message.
  • value must be greater than or equal to zero, else Calci displays #N/A error message.
  • and values must be greater than zero, else Calci displays #N/A error message.
  • The values for should be 1,2 or 4.

For Annual payment, = 1,

For Semi-annual payment, = 2,

For Quarterly payment, = 4.

  • value is optional. If omitted, Calci assumes it to be 0.

Below table shows the use of values:

Basis Description
0 US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/360
  • If value is other than 0 to 4, Calci displays #N/A error message.


YIELD (Settlement,MaturityDate,Rate,Price,RedemptionValue,Frequency,Basis) function with inputs in order is calculated as follows:

=YIELD(A1,A2,A3,A4,A5,A6,A7) : Calculates the Yield Value with the inputs in the range A1 to A7. Returns 6.2% as a result.
=YIELD(DATE(2012,6,10), DATE(2013,6,10), "6%", 98.85, 100, 2) : Calculates the Yield Value with the inputs. 
Returns 7.21% as a result.

Related Videos


See Also