Difference between revisions of "Manuals/calci/PRICE"

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=PRICE(settlement, maturity, rate, yield, redemption, frequency, basis)=
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<div style="font-size:30px">'''PRICE (Settlement,MaturityDate,Rate,Yield,RedemptionValue,Frequency,Basis)'''</div><br/>
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*where <math>Settlement</math> is security's settlement date (a date when coupon or a bond is purchased),  
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*where 'settlement' is the security's settlement date (a date when coupon or a bond is purchased),  
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*<math>MaturityDate</math> is security's maturity date (a date when coupon or a bond expires),  
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*'maturity' is the security's maturity date (a date when coupon or a bond expires),  
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*<math>Rate</math> is security's annual coupon rate,  
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*'rate' is the security's annual coupon rate,  
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*<math>Yield</math> is security's annual yield,
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*'yield' is the security's annual yield,
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*<math>RedemptionValue</math> is security's redemption value per &#36;100 face value,
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*'redemption' is security's redemption value per $100 face value,
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*<math>Frequency</math> is the number of coupon payments per year, and  
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*'frequency' is the number of coupon payments per year, and  
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*<math>Basis</math> is the type of day count basis to use.
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*'basis' is the type of day count basis to use.
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**PRICE(), returns the price per $100 face value of a security that pays periodic interest.
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PRICE() calculates the price per &#36;100 face value of security that pays periodic interest.
 
  
 
== Description ==
 
== Description ==
  
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PRICE(settlement, maturity, rate, yield, redemption, frequency, basis)
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PRICE(Settlement,MaturityDate,Rate,Yield,RedemptionValue,Frequency,Basis)
  
 
*The function returns the price per &#36;100 face value of security that pays periodic interest.
 
*The function returns the price per &#36;100 face value of security that pays periodic interest.
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*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.
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*<math>settlement</math> and <math>MaturityDate</math> dates should be entered either in 'date format' or 'dates returned using formulas'. If dates are not valid, Calci displays #N/A error message.
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*If settlement date ≥ maturity date, Calci displays #N/A error message.
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*If <math>Settlement</math> date ≥ <math>MaturityDate</math> date, Calci displays #N/A error message.
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*'rate' and 'yield' values must be greater than or equal to zero, else Calci displays #N/A error message.
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*<math>Rate</math> and <math>yield</math> values must be greater than or equal to zero, else Calci displays #N/A error message.
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*'redemption' value must be greater than zero, else Calci displays #N/A error message.
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*<math>RedemptionValue</math> value must be greater than zero, else Calci displays #N/A error message.
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*The values for 'frequency' should be 1,2 or 4.  
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*The values for <math>Frequency</math> should be 1,2 or 4.  
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For Annual payment, frequency = 1,
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For Annual payment, <math>Frequency</math> = 1,
  
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For Semi-annual payment, frequency = 2,
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For Semi-annual payment, <math>Frequency</math> = 2,
  
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For Quarterly payment, frequency = 4.
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For Quarterly payment, <math>Frequency</math> = 4.
  
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*'basis' value is optional. If omitted, Calci assumes it to be 0.  
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*<math>Basis</math> value is optional. If omitted, Calci assumes it to be 0.  
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Below table shows the use of 'basis' values:
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Below table shows the use of <math>Basis</math> values:
  
 
{| class="wikitable"
 
{| class="wikitable"
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|}
 
|}
  
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*If 'basis' value is other than 0 to 4, Calci displays #N/A error message.
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*If <math>Basis</math> value is other than 0 to 4, Calci displays #N/A error message.
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*
 
  
 
== Examples ==
 
== Examples ==
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PRICE (Settlement,MaturityDate,Rate,Yield,RedemptionValue,Frequency,Basis)  function with inputs in order is calculated as follows:
  
 
<div id="2SpaceContent" class="zcontent" align="left">
 
<div id="2SpaceContent" class="zcontent" align="left">
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{| id="TABLE3" class="SpreadSheet blue"
 
{| id="TABLE3" class="SpreadSheet blue"
 
|- class="even"
 
|- class="even"
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| class=" " |
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| class="sshl_f" | 2/2/2008
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| Column1
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| class="sshl_f" |
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| class="sshl_f" | Column2
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| Column3
 
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| Column4
 
 
|- class="odd"
 
|- class="odd"
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| class=" " | Row1
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| class="sshl_f" | 11/2/2016
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| class=" " | 2/2/2008
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| class="sshl_f" |  
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| class="sshl_f " | 1
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−
|
 
−
|
 
 
|- class="even"
 
|- class="even"
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| class=" " | Row2
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| class="sshl_f" | 5%
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| class=" " | 11/2/2008
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| class="sshl_f" |
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| class="sshl_f" | 97.852841
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−
|
 
−
|
 
 
|- class="odd"
 
|- class="odd"
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| Row3
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| class="sshl_f" | 8%
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| class=" " | 5%
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| class="sshl_f" |  
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| class=" SelectTD ChangeBGColor SelectTD" |
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<div id="2Space_Handle" class="zhandles" title="Click and Drag to resize CALCI Column/Row/Cell. It is EZ!"></div><div id="2Space_Copy" class="zhandles" title="Click and Drag over to AutoFill other cells."></div><div id="2Space_Drag" class="zhandles" title="Click and Drag to Move/Copy Area.">[[Image:copy-cube.gif]]  </div>
 
−
|
 
−
|
 
 
|- class="even"
 
|- class="even"
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| Row4
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| class="sshl_f" | 100
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| class=" " | 8%
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| class="sshl_f" |
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|
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−
|
 
−
|
 
 
|- class="odd"
 
|- class="odd"
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| class=" " | Row5
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| class="sshl_f" | 2
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| class=" " | 100
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| class="sshl_f" |  
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|
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−
|
 
−
|
 
 
|- class="even"
 
|- class="even"
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| Row6
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| class="sshl_f" | 0
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| class=" " | 2
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| class="sshl_f" |
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|
 
−
|
 
−
|
 
 
|}
 
|}
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=PRICE(A1,A2,A3,A4,A5,A6,A7) : Calculates the Price Value with the inputs in the range A1 to A7. Returns ''81.36538958112115''.
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==Related Videos==
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{{#ev:youtube|tJLR3se4Pa4|280|center|PRICE}}
  
 
== See Also ==
 
== See Also ==
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*[http://en.wikipedia.org/wiki/Bond_valuation Bond Valuation]
 
*[http://en.wikipedia.org/wiki/Bond_valuation Bond Valuation]
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*[http://en.wikipedia.org/wiki/Day_count_convention Basis Convention]
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*[[Z_API_Functions | List of Main Z Functions]]
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*[[ Z3 |  Z3 home ]]

Latest revision as of 16:29, 22 August 2018

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.

Related Videos

PRICE

See Also

References


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