ODDLPRICE

Syntax:

ODDLPRICE ( settlement , maturity , last-interest , rate , yld , redemption ,
frequency [ , [ basis ] ] )

Description: Computes the price per $100 face value of a security having an odd (short or long) last coupon period.

Arguments:

Name	Type	Description
settlement	number	The security's settlement date.
maturity	number	The security's maturity date.
last-interest	number	The security's last coupon date.
rate	number	The security's interest rate.
yld	number	The security's annual yield.
redemption	number	The security's redemption value per $100 face value.
frequency	number	the number of coupon payments per year. (For annual payments, frequency is 1; for semiannual payments, frequency is 2; for quarterly payments, frequency is 4.)
basis	number	The truncated integer type of day count basis to use, as follows: Value Day Count Basis 0 or omitted US (NASD) 30/360 1 Actual/actual 2 Actual/360 3 Actual/365 4 European 30/360

 

Time information in the date arguments is ignored.

Return Type and Value: number – The price per $100 face value of a security having an odd (short or long) last coupon period.

However, if

• settlement, maturity, or last-interest is out of range for the current date base value, #NUM! is returned.

• The following is not true: maturity is later than settlement, which is later than last-interest, so #NUM! is returned.

• rate or yld < 0, #NUM! is returned.

• frequency is any number other than 1, 2, or 4, #NUM! is returned.

• basis < 0 or basis > 4, #NUM! is returned.

[Example:

ODDLPRICE(DATE(2008,11,11),DATE(2021,3,1),DATE(2008,10,15),
0.0785,0.0625,100,2,1) results in 99.8783

end example]