EDM: Purchased Interest And Price % Of Par Value Changes WIth Debt Deal (Doc ID 2274741.1)

Last updated on JULY 12, 2017

Applies to:

PeopleSoft Enterprise FIN Deal Management - Version 9.2 and later
Information in this document applies to any platform.

Symptoms

ISSUE:
 
Purchased Interest and Price % of Par value changes with Debt Deal issued at a premium.


STEPS:

1. Add Instrument Type
2. Add Deal using Instrument Type added
3. Change Settlement Date to 5/16/2017
4. Leave Term blank
5. Populate Maturity Date with 04/01/2026
6. Term field will auto populate with 3242
7. Enter Rate as 3.5
8. Enter Par Amount 220,000,000.00
9. Enter Settlement Amount 224,857600.00
10. Price % of Par auto populates with 102.20
11. Enter Purchased Interest 962,500.00
12. This correctly updates the Settlement Amount to 225,820,100.00
13. Tab out of Purchased Interest field and entered Purchased Interest amount of 962,500.00, changes to a negative amount, -962,500.00
14. Enter Counterparty USBNK
15. Save Deal
16. Now the Purchased Interest value of -962,500.00 changed from a negative back to a positive amount, 962,500.00
17. Settlement Amount remains the same at 224,857,600.00
18. Current Price % of Par shows 102.208
19. Click Cashflows > Click Return
20. Price % of Par value changes from 102.208 to 101.7705

Cause

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