PRICE(settlement, maturity, rate, yield, redemption, 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() calculates the price per $100 face value of security that pays periodic interest.
Description
PRICE(settlement, maturity, rate, yield, redemption, 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, frequency = 1,
For Semi-annual payment, frequency = 2,
For Quarterly payment, frequency = 4.
- 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 value is other than 0 to 4, Calci displays #N/A error message.
Examples
PRICE(settlement, maturity, rate, yield, redemption, 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.