Date dtStart = Date();
			Time t = 0.0;

			NPV_ = 0.0;
        		QL_REQUIRE(!discountCurve_.empty(), "no term structure set");

			Date settlement = settlementDate();
			double dAmount, dDiscount = 0.0;
			NPV_ = 0.0;

			// add the discounted cash flows including redemption
			for (Size i=0; i<cashFlows_.size(); i++) {

				Date d = cashFlows_[i]->date();

				#if QL_TODAYS_PAYMENTS
				if (d >= settlement)
				{
				#else
				if (d > settlement)
				{
				#endif
					if (dtStart == Date())
					{
                        boost::shared_ptr<Coupon> coupon =
                            
boost::dynamic_pointer_cast<Coupon>(cashFlows_[i]);

						dtStart = coupon->accrualStartDate();
						t = dayCount_.yearFraction(settlement, d, dtStart, d);
						dDiscount = discountCurve_->discount(t);
						dAmount = cashFlows_[i]->amount();
						NPV_ += dAmount * dDiscount;
					}
					else
					{
                        boost::shared_ptr<Coupon> coupon =
                            
boost::dynamic_pointer_cast<Coupon>(cashFlows_[i]);

						dtStart = coupon->accrualStartDate();

						t += dayCount_.yearFraction(dtStart, d);
						dDiscount = discountCurve_->discount(t);
						dAmount = cashFlows_[i]->amount();
						NPV_ += dAmount * dDiscount;
					}
				}
			}

			Date redemptionDate = redemption_->date();
            if (dtStart == Date())
			{
                dtStart = redemptionDate - (12/frequency_)*Months;
				t = dayCount_.yearFraction(settlement, redemptionDate,
					dtStart, redemptionDate);

				dDiscount = discountCurve_->discount(t);
            }
			else
			{
				// Take previous Discount at (t)
				dDiscount = discountCurve_->discount(t);
            }

			dAmount = redemption_->amount();
			NPV_ += dAmount * dDiscount;