# Manuals/calci/PRICE

PRICE (Settlement,MaturityDate,Rate,Yield,RedemptionValue,Frequency,Basis)

• where is security's settlement date (a date when coupon or a bond is purchased),
• is security's maturity date (a date when coupon or a bond expires),
• is security's annual coupon rate,
• is security's annual yield,
• is security's redemption value per \$100 face value,
• is the number of coupon payments per year, and
• is the type of day count basis to use.
• PRICE(), returns the price per \$100 face value of a security that pays periodic interest.

## Description

PRICE(Settlement,MaturityDate,Rate,Yield,RedemptionValue,Frequency,Basis)

• The function returns the price per \$100 face value of security that pays periodic interest.
• and dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
• If date ≥ date, Calci displays #N/A error message.
• and values must be greater than or equal to zero, else Calci displays #N/A error message.
• value must be greater than zero, else Calci displays #N/A error message.
• The values for should be 1,2 or 4.

For Annual payment, = 1,

For Semi-annual payment, = 2,

For Quarterly payment, = 4.

• value is optional. If omitted, Calci assumes it to be 0.

Below table shows the use of values:

Basis Description
0 US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/365
• If value is other than 0 to 4, Calci displays #N/A error message.

## Examples

PRICE (Settlement,MaturityDate,Rate,Yield,RedemptionValue,Frequency,Basis) function with inputs in order is calculated as follows:

 2/2/2008 11/2/2016 5% 8% 100 2 0
```=PRICE(A1,A2,A3,A4,A5,A6,A7) : Calculates the Price Value with the inputs in the range A1 to A7. Returns 81.36538958112115.
```

PRICE