Calculate either bond dollar price or yield to maturity and the accrued interest for AIBD securities (cum or ex dividend)
Introduced in release: 1.0 Component: Non-US (developed mkts) Purpose:
Calculates either dollar price or yield to maturity and the accrued interest for an international regular bond or odd first coupon bond (cum or ex dividend) that adheres to AIBD conventions.
Special Considerations:
This routine differs from the generic bond price/yield calculation in that it uses compounded interest when there is one period or less remaining to redemption, while the generic routine uses a simple interest methodology. Compounding with one or less periods to redemption is the implied AIBD method; however, there are some Euro bonds that use the simple interest method. For these bonds, use the generic bond price/yield routine and specify the AIBD/360 calendar.
Notes:
The maturity date used by this routine can be a maturity/redemption date.
Results:
The variable calculated contains the calculated dollar price or yield to redemption accurate to as many places as supported by double precision values. The variable ai contains the accrued interest per 100 of maturity value, also accurate to as many places as supported by a double precision value.
Error Conditions:
Returned values should be ignored for a non-zero status. See Errors.
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