Calculate price/yield to call schedule for perpetual preferred securities
Introduced in release: 1.997 Component: US Bonds Purpose:
Given a price or current yield the function will calculate sec yields (yields using discounted cash flows) to maturity/call and accreted dividend for a perpetual preferred security.
It also calculates strip price, strip yield, and strip yield.
Alternatives:
If you have a preferred security with a maturity date use prfd_py_call
Notes:
The call schedule (rd_sched_type) can either be discrete calls or continuous calls.
Results:
All results are calculated accurate to as many places as supported by a double precision value. The variable worst_calculated contains the calculated yield to the worst of maturity or call. The worst redemption date (worst_rd_month, worst_rd_day, worst_rd_year) contains the date to which the worst_calculated was calculated. The worst_rv contains the redemption value to which the worst_calculated was calculated.
In addition to the calculation to worst, the results of the calculation to each specified call are returned in the calc to arrays.
Error Conditions:
Returned values should be ignored for a non-zero status. See Errors.
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