Function SecurityPeriodicRedemption(SettlementDate, MaturityDate, ParValue, Price, Frequency, CouponRate, Yield, Basis)


The function SecurityPeriodicRedemption returns the repayment at maturity date of a security that pays interest at the end of each coupon period.

    SettlementDate,           ! (input) scalar string expression
    MaturityDate,             ! (input) scalar string expression
    ParValue,                 ! (input) numerical expression
    Price,                    ! (input) numerical expression
    Frequency,                ! (input) numerical expression
    CouponRate,               ! (input) numerical expression
    Yield,                    ! (input) numerical expression
    [Basis]                   ! (optional) numerical expression



The date of settlement of the security. SettlementDate must be in date format.


The date of maturity of the security. MaturityDate must also be in date format and must be a date after SettlementDate.


The starting value of the security at issue date. ParValue must be a positive real number.


The price of the security at settlement date. Price must be a positive real number.


The number of coupon payments in one year. Frequency must be 1 (annual), 2 (semi-annual) or 4 (quarterly).


The annual interest rate of the security as a percentage of the par value. CouponRate must be a nonnegative real number.


The yield of the security. Yield must be a nonnegative real number.


The day-count basis method to be used. The default is 1.

Return Value

The function SecurityPeriodicRedemption returns the amount repaid for the security at the maturity date.


This function can be used in an objective function or constraint and the input parameters ParValue, Price, CouponRate, and Yield can be used as a variable.

See also

Day count basis methods. General equations for securities with multiple coupons.