Price

Syntax

Price(Settlement, Maturity, Rate, YieldP, Redemption, Frequency[, Basis])

Settlement. The security's settlement date. This date is later than the issue date (the date, when the securities were sold to the buyer).

Maturity. The security's maturity date. The maturity date is the date when the security expires.

Rate. Annual interest rate for coupons on securities. Value of this parameter must be greater or equal to zero.

YieldP. The annual income on securities. Value of this parameter must be greater or equal to zero.

Redemption. The security's redemption price per $100 face value. Value of this parameter must be greater than zero.

Frequency. The number of payments for coupons in a year. The parameter may take the following values:

Basis. The day calculation method used. It is set in the range from 0 to 4:

0. The day calculation method - American. 360 days (NSAD method). Default value.
1. Day calculation method - Actual/actual.
2. Day calculation method - Actual/360 days.
3. Day calculation method - Actual/365 days.
4. Day calculation method - European 30/360 days.

Optional parameter.

NOTE. To determine the parameter, specify either the parameter value or the cell address where it is located.

It returns the price per $100 face value of the securities that pay periodic interest.

The Settlement parameter value should not be less than the Maturity parameter value.

Formula

Result

Description

=Price("01.01.2008", "01.06.2008", 0.15, 0.2, 150, 1, 0)

144,18

The price per $100 face value of securities based on the following conditions:

=Price(A0, B0, 0.05, 0.35, 1510, 1, 0)

1208,41

The price per $100 face value of securities based on the following conditions: