Irregular Coupons
Also known as Odd Coupon
Sometimes the first or the last coupon period of a bond can be shorter or longer that the defined period (annual or semi-annual)
Excel Functions
ODDFPRICE | Returns the price per $100 face value for a security having an odd (short or long) first period. |
ODDLPRICE | Returns the price per $100 face value for a security having an odd (short or long) last coupon period. |
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