Investment Audit System LLC

Bond Cost Calculator™
IAS announces a Municipal & Corporate Bond Cost Calculator. New service can uses a huge database of Muni & Corporate bonds to calculate Amortization/Accretion to produce Gain/Loss on a sale.

Now featuring:

Database of over 5 million bonds.
Call Schedules.
Stepped and Floating Rate Coupons.
Calculates both Yield-to-Call and Yield-to-Maturity and then uses the appropriate value.
Amortized or Accreted Present Value Schedule is produced.
Realized Gain/Loss on bond sale is calculated.

Sample Bond Calculation:™

CUSIP:

Bond Search

HARRIS NATL ASSN CHICAGO ILL CD CLL STEP 20

Mat:04/30/2020 Cpn: 4.5 Orig Issue Date: 04/30/2008

Settlement date:

Face Amount:

Buy Price:

(bond price like 99.75)

Sell Price:

(default is 100.0)

Sell Date:

(default is maturity)

Callable :

on 4/30/2012 @100

Yield to Call:

3.80543

Yield to Maturity:

4.27122 Realized Gain/Loss: ($26.84)

Present Value Table
Dated:	Amount	Coupon	PresentValue	Description
04-01-2009	($1,020.00)	4.5000	$1,020.00	Purchase
10-30-2009	$45.00	4.5000	$1,018.57	Interest
10-30-2010	$45.00	4.5000	$1,017.07	Interest
10-30-2011	$45.00	4.5000	$1,015.51	Interest
02-01-2012	$1,000.00	4.5000	$1,026.84	Sold

Call Schedule
Call Date	Call Price
04-30-2009	100
10-30-2009	100
04-30-2010	100
10-30-2010	100
04-30-2011	100
10-30-2011	100
04-30-2012	100
10-30-2012	100
04-30-2013	100
10-30-2013	100
04-30-2014	100

Coupon Change Schedule
Effective Date	Rate
04/30/2008	4.5
04/30/2020	4.5

Instructions:

1.	Enter a Bond CUSIP
2.	If you don't know the CUSIP click Bond Search.
3.	When you enter the CUSIP and tab the Bond name, maturity & Coupon will appear.
4.	Enter the Face amount. For most bonds that is a multiple of 1,000.
5.	Enter the Bond Price paid. Bond prices are based on 100, for example 99.75 or 102.5.
6.	Enter the Settlement date (NOT the trade date). Typical settlement is 3 days after the trade.
7.	Optionally, enter a sell price and sell date. Default is Par on Maturity date.
8.	Click calculate. First it checks to see if the bond is callable. If so, a Yield to Call is used.
9.	If it's not callable, a Yield to Maturity is used..
3.	A payment schedule is developed and finally an Amortization/Accretion is displayed.