## Use

The ODDLPRICE function calculates the price per $100 face of a security having an irregular/odd (short or long) last coupon period.

## Syntax

ODDLPRICE(settlement, maturity, last_interest, rate, yld, redemption, frequency, [basis])

The ODDLPRICE function has the following arguments:

**settlement** – Required. The security’s settlement date.

**maturity** – Required. The expiry date of the security.

**last_interest** – Required. The security’s last date of coupon.

**yld** – Required. The annual yield of the security.

**Redemption** – Required. The redemption value per $100 face value.

**Frequency** – Required. The frequency of coupon payments in a year. Available options are:

For | Frequency |

Annual Payments | 1 |

Semiannual | 2 |

Quarterly | 4 |

**[basis]** – Optional. The day count basis to be used in the calculation. If omitted, Excel uses 0 by default. Choose your option from the table below:

Basis | Day count basis |

0 or omitted | US (NASD) 30/360 |

1 | Actual/actual |

2 | Actual/360 |

3 | Actual/365 |

4 | European 30/360 |

## Example

The security with the above terms has the price of $99.87.

## Function Errors

Error | Occurs |

#VALUE! | If the supplied settlement, maturity, or last_interest date is invalid. |

#NUM! | If the rate or yield is smaller than zero. |

#NUM! | If the [basis] argument is smaller than 0 or greater than 4. |

## Related Functions

The ODDLYIELD function is a Financial function, it has the following related functions:

ODDLYIELD function calculates the yield of a security that has an odd (irregular) last period.

ODDFPRICE function calculates the price of a bond having an irregular first period.

ODDFYIELD function calculates the yield of a security that has an irregular (short or long) first period.