yldmat - Yield with interest at maturity

Syntax

Yield = yldmat(Settle, Maturity, Issue, Face, Price, CouponRate, Basis)

Arguments

`Settle`	Settlement date. Enter as serial date number or date string. `Settle` must be earlier than or equal to `Maturity`.
`Maturity`	Maturity date. Enter as serial date number or date string.
`Issue`	Issue date. Enter as serial date number or date string.
`Face`	Redemption (par, face) value.
`Price`	Price of the security.
`CouponRate`	Coupon rate. Enter as decimal fraction.
`Basis`	(Optional) Day-count basis of the instrument. A vector of integers. 0 = actual/actual (default) 1 = 30/360 (SIA) 2 = actual/360 3 = actual/365 4 = 30/360 (PSA) 5 = 30/360 (ISDA) 6 = 30/360 (European) 7 = actual/365 (Japanese) 8 = actual/actual (ISMA) 9 = actual/360 (ISMA) 10 = actual/365 (ISMA) 11 = 30/360E (ISMA) 12 = actual/365 (ISDA) 13 = BUS/252

Description

Yield = yldmat(Settle, Maturity, Issue, Face, Price, CouponRate, Basis) returns the yield of a security paying interest at maturity.

Examples

Using the data

Settle = '02/07/2000';
Maturity = '04/13/2000';
Issue = '10/11/1999';
Face = 100;
Price = 99.98;
CouponRate = 0.0608;
Basis = 1;

Yield = yldmat(Settle, Maturity, Issue, Face, Price,... 
CouponRate, Basis)

returns

Yield =
        0.0607 (or 6.07%)

References

Mayle, Standard Securities Calculation Methods, Volumes I-II, 3rd edition. Formula 3.