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AI = Accrued interest
CPN = Annual interest rate (as a percentage) and not more than 2 decimal places
DC = Actual day count from the most recent interest payment up to, but not including, the date that the accrued interest will be paid out
PC = Total number of days from the most recent interest payment to, but not including , the next interest payment
H = Redemption amount
How is accrued interest calculated?
The actual amount of accrued interest paid out on each redemption date is calculated according to this formula:
AI = (CPN/2) x (DC/PC) X H
Where:
CPN = Annual interest rate (as a percentage) and not more than 2 decimal places
DC = Actual day count from the most recent interest payment up to, but not including, the date that the accrued interest will be paid out
PC = Total number of days from the most recent interest payment to, but not including , the next interest payment
H = Redemption amount
This information is sourced from MAS.
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