PRICE(settlement, maturity, rate, yield, redemption, frequency, basis)

where 'settlement' is the security's settlement date (a date when coupon or a bond is purchased),
'maturity' is the security's maturity date (a date when coupon or a bond expires),
'rate' is the security's annual coupon rate,
'yield' is the security's annual yield,
'redemption' is security's redemption value per $100 face value,
'frequency' is the number of coupon payments per year, and
'basis' is the type of day count basis to use.

PRICE() calculates the price per $ 100 face value of security that pays periodic interest.

Description

The function returns the price per $ 100 face value of security that pays periodic interest.
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 zero, else Calci displays #N/A error message.
'redemption' value must be greater than or equal to 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: