The ODDLPRICE function calculates the price per $100 face of a security having an irregular/odd (short or long) last coupon period.
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:
[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|
The security with the above terms has the price of $99.87.
|#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.|
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.