OddlPrice

Syntax

OddlPrice(Settlement, Maturity, LastCouponDate, Rate, YieldP, Redemption, Frequency, Basis)

Parameters

Settlement. The security's settlement date (the date of securities sell to the buyer is later than the securities issue date)

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

LastCouponDate. The date of the last coupon payment on securities.

Rate. The security's interest rate. Parameter value must be greater than or equal to zero.

YieldP. The annual income on securities. Parameter value must be greater than or equal to zero.

Redemption. The security's redemption value per $100 face value

Frequency. The annual number of coupon payments. The parameter may take the following values:

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

Optional parameter.

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

Description

It returns the price per 100 dollars of securities face value for the irregular (short or long) last period of coupon.

Comments

The value of the Settlement parameter must be less than value of the Maturity parameter.

The Maturity parameter value must be greater than the LastCouponDate parameter value.

The LastCouponDate parameter value must be less than the Settlement parameter value.

Example

Formula Result Description
=OddlPrice("07.02.2008", "15.06.2008", "15.10.2007", 0.1275, 0.1025, 200, 4, 3) 197.21 rub.

The price per $100 face value of securities for an odd last period of the coupon on the following conditions:

  • The security's settlement date is 16.02.2008.

  • The security's maturity date is 15.06.2008.

  • The date of the last coupon payment on securities is 15.10.2007.

  • The interest rate is 12.75%.

  • The annual income is 10.25%.

  • The security's redemption value is 200.

  • The number of payments for coupons in a year is 4, quarterly payments.

  • The day calculation method - actual.
=OddlPrice(A1, A2, A3, 0.0375, 0.0405, 100, 2, 0) 99.88 rub.

The price per $100 face value of securities for an odd last period of the coupon on the following conditions:

  • The security's settlement date is specified in the A1 cell, value is 07.02.2008.

  • The security's maturity date is specified in the cell A2, value 15.06.2008.

  • The date of the last coupon payment on securities is specified in the cell A3, value is 15.10.2007.

  • The interest rate is 3.75%.

  • The annual income is 4.05%.

  • The security's redemption value is 100.

  • The number of payments for coupons in a year is 2 (semi-annual payments).

  • The day calculation method - American.

See also:

Function Wizard │ Financial Functions