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.