Manuals/calci/PRICE

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

where $Settlement$ is security's settlement date (a date when coupon or a bond is purchased),
$MaturityDate$ is security's maturity date (a date when coupon or a bond expires),
$Rate$ is security's annual coupon rate,
$Yield$ is security's annual yield,
$RedemptionValue$ is security's redemption value per $100 face value,
$Frequency$ 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.
$settlement$ and $MaturityDate$ 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 ≥ $MaturityDate$ 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.
$RedemptionValue$ value must be greater than zero, else Calci displays #N/A error message.
The values for $Frequency$ should be 1,2 or 4.

For Annual payment, $Frequency$ = 1,

For Semi-annual payment, $Frequency$ = 2,

For Quarterly payment, $Frequency$ = 4.

Below table shows the use of $Basis$ values:

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

=PRICE(A1,A2,A3,A4,A5,A6,A7) : Calculates the Price Value with the inputs in the range A1 to A7. Returns 81.36538958112115.