BondYieldVar() function

BondYieldVar() function

BondYieldVar(argument list…)

This function returns yield from price for a bond with variable coupons. The function uses the following arguments:

Argument	Description	Restrictions
Settlement_Date	bond settlement date	valid Excel date number
Maturity_Date	bond maturity date	valid Excel date number > Settlement_Date
Coupon_Dates	array of bond coupon payment dates	- strictly ascending order The first date of this array must be the bond's next coupon date, or an earlier coupon date. The final date of this array must be the bond's maturity date.
Coupon_Rates	array of coupon rates corresponding to Coupon_Dates array	>= 0
Bond_Price	bond price per $100 par	> 0
Redemption	bond's redemption value per $100 par	> 0 (typically 100)
Frequency	number of bond coupons per annum (in the case of zero coupon bonds, indicates the compounding frequency)	1, 2, 4, or 12
DCB	day count basis	0 = 30/360 (US) 1 = act/act for CAD/US T-Bonds 2 = act/360 3 = act/365 4 = 30/360 (European) 5 = CAD modified act/365