FINANCE YIELD Function

Computes the yield on a security that pays periodic interest.

Category:	Financial

Table of Contents

Syntax

FINANCE('YIELD', settlement, maturity, rate, price,
redemption,frequency, <basis>);

Arguments

settlement

specifies the settlement date.

maturity

specifies the maturity date.

rate

specifies the interest rate.

price

specifies the price of the security per $100 face value.

redemption

specifies the amount to be received at maturity.

frequency

specifies the number of coupon payments per year. For annual payments, frequency=1; for semiannual payments, frequency=2; for quarterly payments, frequency=4.

basis

specifies the optional day count value.

Example: Computing Description: YIELD

The following example computes the yield on a security that pays periodic interest.

data _null_;
   settlement=mdy(2, 15, 2008);
   maturity=mdy(11, 15, 2016);
   rate=0.0575;
   pr=95.04287;
   redemption=100;
   frequency=2;
   basis=0;
   r=finance('yield', settlement, maturity, rate, pr, redemption, frequency, basis);
   put r=;
run;

data _null_;
   settlement=mdy(2, 15, 2008);
   maturity=mdy(11, 15, 2016);
   rate=0.0575;
   pr=95.04287;
   redemption=100;
   frequency=2;
   basis=0;
   r=finance('yield', settlement, maturity, rate, pr, redemption, frequency, basis);
   put r=;
run;

These statements produce this result:

r=0.0650000069

Last updated: September 14, 2026