Manuals/calci/ODDLPRICE

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

$SettlementDate$ is the settlement date.
$MaturityDate$ is the maturity date.
$LastInterestDate$ is the last interest date.
$Rate$ is the rate of interest.
$Yield$ is the yield for annum.
$Redemption$ is the security's redemption value.
$Frequency$ 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 $ODDLPRICE(SettlementDate,MaturityDate,LastInterestDate,Rate,Yield,Redemption,Frequency,Basis)$ , $SettlementDate$ is the security's settlementDate. It is a Date or DateTime specifying when the security was purchased.
$MaturityDate$ is the security's maturity date. This date is after the settlement date specifying when the security matures.
$LastInterestDate$ is the date which is specifying when the security has its last payment. This date must be before the settlementDate.
$Rate$ is a non-negative number specifying the interest rate for the coupons that the security pays.
$Yield$ is the security's yield for an annum which is a nonnegative number.
$Redemption$ is a number or currency specifying the security’s value at redemption per $100 of face value.
$Frequency$ is is a number specifying the number of coupons per year.
The supported values are

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

       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.