Second, calculate the yield to call:
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| @9A68,&((" | |
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1.012006 | " | Changes maturity date | |
01:8(#?(#?$((' F4<" to the call date.
110 | ~ | 71998##(&((" | Stores call value. | |||
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Discounted Notes
A note is a written agreement to pay to the buyer of the note a sum of money plus interest. Notes do not have periodic coupons, since all interest is paid at maturity. A discounted note is a note that is purchased
below its face value. The following equations find the price or yield of a discounted note. The calendar basis is actual/360.
Solver Equations for Discounted Notes: To find the price given the discount rate:
<E:HI52;7H82O/LA;F7B2OBAA1@FLFH::I01:I#TD%'(((T"
To find the yield given the price (or to find the price given the yield):
<E:HI@;H9A8L2O/52;7HTD52;7HB%'(((D"
AA1@FLFH::I01:I#T"
PRICE = the purchase price per $100 face value.
YIELD = the yield as an annual percentage.
RV = the redemption value per $100.
DISC = the discount rate as a percent.
SETT = the settlement date (in current date format).
MAT = the maturity date (in current date format).
216 14: Additional Examples
File name : | Print data : 2003/7/11 |