# ODDLPRICE function in Excel

## 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.