The ODDLPRICE function calculates the price, per $100 face value of a security with an odd, short or long, last period.
|settlement||The settlement date of the security, i.e. the date that the coupon is purchased|
|maturity||The maturity date of the security, i.e. the date that the coupon expires|
|last_interest||The date of the security’s last coupon|
|rate||The security’s interest rate|
|yld||The annual yield of the security|
|redemption||Redemption value per $100 face value|
|frequency||Number of coupon payments per year. This must be one of the following:
|[basis]||Optional. Defines the day count basis to be used in the calculation
The financial day count basis rules are explained in detail on the Wikipedia Day Count Convention page
Note: The date arguments must satisfy the following:
last_coupon < settlement < maturity
Note: The settlement, maturity and last_interest dates should be input as either:
- References to cells containing dates, or
- Dates returned from formulas
If you attempt to input these date arguments as text, Excel may misinterpret them, due to different date systems, or date interpretation settings.
Warning: Although you can input the date arguments as date serial numbers, this is not recommended as date serial numbering does vary across different computer systems.
|8||4||Frequency is quarterly|
|11||=ODDLPRICE(A2,A3,A4,A5,A6,A7,A8)||$100.41||The price per $100 of a security having an odd (short or long) last coupon period, for a bond using the terms in cells A2:A9 as function arguments, [basis] was omitted and therefore defaults to 0|
Common Function Error(s)
|Problem||What went wrong|
|#NAME?||Occurs when Analysis ToolPak add-in is not enabled|