Difference between revisions of "Manuals/calci/PRICEMAT"
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| − | + | =PRICEMAT(settlement, maturity, issue, rate, yield, basis)= | |
| − | + | *where 'settlement' is the security's settlement date (a date when coupon or a bond is purchased), | |
| + | *'maturity' is security's maturity date (a date when coupon or a bond expires), | ||
| + | *'issue' is security's issue date (a date when coupon or a bond is issued), | ||
| + | *'rate' is security's interest rate, | ||
| + | *'yield' is security's annual yield, | ||
| + | *'basis' is the type of day count basis to use. | ||
| − | + | PRICEMAT() calculates the price per $100 face value of security that pays interest at maturity. | |
| − | + | == Description == | |
| − | + | PRICEMAT(settlement, maturity, issue, rate, yield, basis) | |
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| − | * | + | *The function returns the price per $100 face value of security that pays interest at maturity. |
| + | *Settlement and maturity 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 settlement date ≥ maturity date, Calci displays #N/A error message. | ||
| + | *'rate' and 'yield' values must be greater than or equal to zero, else Calci displays #N/A error message. | ||
| + | *'basis' value is optional. If omitted, Calci assumes it to be 0. | ||
| + | Below table shows the use of 'basis' values: | ||
| − | + | {| class="wikitable" | |
| − | + | |- | |
| − | + | ! Basis !! Description | |
| − | + | |- | |
| − | + | | 0 || US (NASD) 30/360 | |
| − | + | |- | |
| − | + | | 1 || Actual/actual | |
| − | + | |- | |
| − | + | | 2 || Actual/360 | |
| − | + | |- | |
| − | + | | 3 || Actual/365 | |
| − | + | |- | |
| − | + | | 4 || European 30/365 | |
| − | + | |} | |
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| − | + | *If 'basis' value is other than 0 to 4, Calci displays #N/A error message. | |
| − | + | == Examples == | |
| − | + | PRICEMAT(settlement, maturity, issue, rate, yield, basis) function with inputs in order is calculated as follows: | |
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{| id="TABLE3" class="SpreadSheet blue" | {| id="TABLE3" class="SpreadSheet blue" | ||
|- class="even" | |- class="even" | ||
| − | | class=" " | | + | | class="sshl_f" | 2/2/2008 |
| − | + | | class="sshl_f" | | |
| − | | class=" | + | |
| − | |||
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|- class="odd" | |- class="odd" | ||
| − | + | | class="sshl_f" | 11/2/2016 | |
| − | | class="sshl_f" | | + | | class="sshl_f" | |
| − | | class="sshl_f" | | + | |
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|- class="even" | |- class="even" | ||
| − | + | | class="sshl_f" | 5% | |
| − | | class="sshl_f" | | + | | class="sshl_f" | |
| − | | class=" | + | |
| − | |||
| − | |||
|- class="odd" | |- class="odd" | ||
| − | + | | class="sshl_f" | 8% | |
| − | | class="sshl_f" | | + | | class="sshl_f" | |
| − | | | + | |
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|- class="even" | |- class="even" | ||
| − | + | | class="sshl_f" | $100 | |
| − | | class="sshl_f" | | + | | class="sshl_f" | |
| − | | | + | |
| − | | | ||
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|- class="odd" | |- class="odd" | ||
| − | | class=" " | | + | | class="sshl_f" | 2 |
| − | | class="sshl_f" | + | | class="sshl_f" | |
| − | | | + | |
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|- class="even" | |- class="even" | ||
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| class="sshl_f" | 0 | | class="sshl_f" | 0 | ||
| − | | | + | | class="sshl_f" | |
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|} | |} | ||
| − | + | =PRICEMAT(A1,A2,A3,A4,A5,A6) : Calculates the Price Value with the inputs in the range A1 to A7. Returns ''81.36538958112115''. | |
| − | + | ||
| + | == See Also == | ||
| + | |||
| + | *[[Manuals/calci/PRICE | PRICE]] | ||
| + | *[[Manuals/calci/PRICEDISC | PRICEDISC]] | ||
| + | |||
| + | == References == | ||
| + | |||
| + | *[http://en.wikipedia.org/wiki/Bond_valuation Bond Valuation] | ||
| + | *[http://en.wikipedia.org/wiki/Day_count_convention Basis Convention] | ||
Revision as of 16:57, 9 December 2013
PRICEMAT(settlement, maturity, issue, rate, yield, basis)
- where 'settlement' is the security's settlement date (a date when coupon or a bond is purchased),
- 'maturity' is security's maturity date (a date when coupon or a bond expires),
- 'issue' is security's issue date (a date when coupon or a bond is issued),
- 'rate' is security's interest rate,
- 'yield' is security's annual yield,
- 'basis' is the type of day count basis to use.
PRICEMAT() calculates the price per $100 face value of security that pays interest at maturity.
Description
PRICEMAT(settlement, maturity, issue, rate, yield, basis)
- The function returns the price per $100 face value of security that pays interest at maturity.
- Settlement and maturity 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 settlement date ≥ maturity date, Calci displays #N/A error message.
- 'rate' and 'yield' values must be greater than or equal to zero, else Calci displays #N/A error message.
- 'basis' value is optional. If omitted, Calci assumes it to be 0.
Below table shows the use of 'basis' values:
| Basis | Description |
|---|---|
| 0 | US (NASD) 30/360 |
| 1 | Actual/actual |
| 2 | Actual/360 |
| 3 | Actual/365 |
| 4 | European 30/365 |
- If 'basis' value is other than 0 to 4, Calci displays #N/A error message.
Examples
PRICEMAT(settlement, maturity, issue, rate, yield, basis) function with inputs in order is calculated as follows:
| 2/2/2008 | |
| 11/2/2016 | |
| 5% | |
| 8% | |
| $100 | |
| 2 | |
| 0 |
=PRICEMAT(A1,A2,A3,A4,A5,A6) : Calculates the Price Value with the inputs in the range A1 to A7. Returns 81.36538958112115.