# Manuals/calci/ODDLPRICE

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**ODDLPRICE (SettlementDate,MaturityDate,LastInterestDate,Rate,Yield,Redemption,Frequency,Basis)**

- is the settlement date.
- is the maturity date.
- is the last interest date.
- is the rate of interest.
- is the yield for annum.
- is the security's redemption value.
- is the frequency.
- is the basis.
- ODDLPRICE(), returns the price per $100 face value of a security with an odd last period.

## Description

- This function gives the price of a security that pays interest periodically, but has an odd last coupon period.
- The peroid can be shorter or longer compared with the other periods.
- This function is inverse of the ODDLYIELD.
- In , is the security's settlementDate. It is a Date or DateTime specifying when the security was purchased.
- is the security's maturity date. This date is after the settlement date specifying when the security matures.
- is the date which is specifying when the security has its last payment. This date must be before the settlementDate.
- is a non-negative number specifying the interest rate for the coupons that the security pays.
- is the security's yield for an annum which is a nonnegative number.
- is a number or currency specifying the security’s value at redemption per $100 of face value.
- is is a number specifying the number of coupons per year.
- The supported values are

1 -annual payments 2 -semiannual payments 4 -quarterly.

- is an optional number specifying the day basis system to use.

Basis | Day count basis |
---|---|

0 or omitted | American 30/360 (default) |

1 | actual/actual |

2 | actual/360 |

3 | actual/365 |

4 | European 30/360 |

- The date arguments must satisfy the following conditions:

SettlementDate < LastInterestDate < MaturityDate.

- Also SettlementDate, MaturityDate, LastInterestDate,and Basis are truncated in to integers.
- This function will give the result as error when

1.The date arguments SettlementDate, MaturityDate and LastInterestDate are not a valid date. 2.Rate<0 or Yield<0. 3.Basis<0 or Basis>4.

## Examples

A | B | |
---|---|---|

1 | 7/18/2006 | 10/12/2013 |

2 | 9/8/2007 | 3/14/14 |

3 | 4/20/2005 | 5/5/2012 |

4 | 3.75% | 4.85% |

5 | 5.25% | 6.45% |

6 | 110 | 150 |

7 | 2 | 1 |

8 | 0 | 0 |

- =ODDLPRICE(A1,A2,A3,A4,A5,A6,A7,A8) = 107.560579
- =ODDLPRICE(A1,A2,A3,A4,A5,A6,4,2) = 107.5383470
- =ODDLPRICE(B1,B2,B3,B4,B5,B6,B7,B8) = 147.83213209
- =ODDLPRICE(B1,B2,B3,B4,B5,B6,2,3) = 147.82713239

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## See Also

## References