ODDFPRICE function
Summary
Returns the price per $100 face value of a security with an odd first period
Syntax
ODDFPRICE(settlement, maturity, issue, first_coupon, rate, yld, redemption, frequency, [basis])
Important: Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if dates are entered as text.
The ODDFPRICE function syntax has the following arguments:
• Settlement Required. The security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
• Maturity Required. The security's maturity date. The maturity date is the date when the security expires.
• Issue Required. The security's issue date.
• First_coupon Required. The security's first coupon date.
• Rate Required. The security's interest rate.
• Yld Required. The security's annual yield.
• Redemption Required. The security's redemption value per $100 face value.
• Frequency Required. The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.
• Basis Optional. The type of day count basis to use.
0 or omitted | US (NASD) 30/360
1 | Actual/actual
2 | Actual/360
3 | Actual/365
4 | European 30/360
The ODDFPRICE function syntax has the following arguments:
• Settlement Required. The security's settlement date. The security settlement date is the date after the issue date when the security is traded to the buyer.
• Maturity Required. The security's maturity date. The maturity date is the date when the security expires.
• Issue Required. The security's issue date.
• First_coupon Required. The security's first coupon date.
• Rate Required. The security's interest rate.
• Yld Required. The security's annual yield.
• Redemption Required. The security's redemption value per $100 face value.
• Frequency Required. The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.
• Basis Optional. The type of day count basis to use.
0 or omitted | US (NASD) 30/360
1 | Actual/actual
2 | Actual/360
3 | Actual/365
4 | European 30/360
Example
=ODDFPRICE(A2, A3, A4, A5, A6, A7, A8, A9, A10)