Crystal Reports for Eclipse Designer Guide

OddLPrice

Description
OddLPrice returns the price of a security that pays interest periodically but has an odd last period.
Overloads
  • OddLPrice (settlementDate, maturityDate, lastInterestDate, rate, yield, redemptionValue, frequency)
  • OddLPrice (settlementDate, maturityDate, lastInterestDate, rate, yield, redemptionValue, frequency, basis)
  • Arguments
  • settlementDate is a Date or DateTime specifying when the security was purchased.
  • maturityDate is a Date or DateTime after the settlement date specifying when the security matures.
  • lastInterestDate is a Date or DateTime specifying when the security has its last payment. This date must be before the settlementDate.
  • rate is a non-negative number specifying the interest rate for the coupons that the security pays.
  • yield is a non-negative number specifying the security's yield.
  • redemptionValue is a number or currency specifying the security's value at redemption per $100 of face value.
  • frequency is a number specifying the number of coupons per year. The supported values are 1 (annual payments), 2 (semiannual payments), and 4 (quarterly).
  • basis is an optional number specifying the day basis system to use. The following types are supported:
    • 0 - American 30/360 (default)
    • 1 - actual/actual
    • 2 - actual/360
    • 3 - actual/365
    • 4 - European 30/360
  • Returns
    Currency value
    Action
    OddLPrice returns the price of a security that pays interest periodically but has an odd last period. The last period can be shorter or longer than the other periods.
    Examples
    Suppose a bond matured on June 25, 2000 that had an interest rate of 4.5% and a yield of 4.15%. The last interest date before maturity was September 30, 1999 and the bond was purchased on January 10, 2000. With quarterly interest payments, a $100 redemption price and a 30/360 basis, the purchase price can be found using the following formula:
    OddLPrice(DateValue(2000,1,10), DateValue(2000,6,25), DateValue(1999,9,30), 0.045, 0.0415, 100, 4, 0)
    
    Returns $100.13 (rounded to the nearest cent).
    Comments
  • This function is similar to the Excel function of the same name.
  • This function is the inverse of the related function OddLYield.



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