PRICEMAT

PRICEMAT

Synopsis

PRICEMAT(settlement,maturity,issue,rate,yield[,basis])

Description

PRICEMAT calculates and returns the price per $100 face value of a security. The security pays interest at maturity.

settlement is the settlement date of the security. maturity is the maturity date of the security. issue is the issue date of the security. rate is the discount rate of the security. yield is the annual yield of the security. basis is the type of day counting system you want to use:

0 US 30/360

1 actual days/actual days

2 actual days/360

3 actual days/365

4 European 30/360

  • If settlement date or maturity date is not valid, PRICEMAT returns #NUM! error.
  • If basis is omitted, US 30/360 is applied.
  • If basis < 0 or basis > 4, PRICEMAT returns #NUM! error.
  • If settlement date is after maturity date or they are the same, PRICEMAT returns #NUM! error.

Examples

See also

PRICEDISC.