# Documentation/Calc Functions/ODDLPRICE

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## Function name:

ODDLPRICE

## Category:

Financial Analysis

## Summary:

Calculates the price per 100 currency units par value of a security, if the last interest date falls irregularly.

## Syntax:

ODDLPRICE(**Settlement**; **Maturity**; **Last Interest**; **Rate**; **Yield**; **Redemption**; **Frequency**[; **Basis**])

## Returns:

Returns a real number which is the value of a security per 100 currency units of face value. The security has an irregular last interest date.

## Arguments:

**Settlement** is a date or a reference to a cell containing that date which is the date of purchase of the security.

**Maturity** is a date or a reference to a cell containing that date which is the date on which the security matures (expires).

**Last Interest** is a date or a reference to a cell containing that date which is the last interest date of the security.

**Rate** is a positive real number or a reference to a cell containing that number which is the annual rate of interest (coupon interest rate).

**Yield** is a positive real number or a reference to a cell containing that number which is the annual yield of the security.

**Redemption** is a positive real number or a reference to a cell containing that number which is the redemption value per 100 currency units of par value.

**Frequency** is a positive integer or a reference to a cell containing that integer which is the number of interest payments per year (1, 2, or 4).

Frequency | Frequency |
---|---|

1 | Annual |

2 | Semiannual |

4 | Quarterly |

**Basis** is a positive integer from 0 to 4 or a reference to a cell containing that integer which is chosen from a list of options and indicates how the year is to be calculated. For more information, visit Wikipedia's Day count convention page.

Basis | Calculation |
---|---|

0 or missing | US method (NASD), 12 months of 30 days each |

1 | Exact number of days in months, exact number of days in year. |

2 | Exact number of days in month, year has 360 days. |

3 | Exact number of days in month, year has 365 days. |

4 | European method, 12 months of 30 days each. |

- If
**Yield**less than 0 then the function returns an error value. - If either
**Last Interest**,**FirstInterest**,**Maturity**or**Settlement**is not valid dates then the function returns an value(#VALUE!) error. - If
**Settlement**date is after the**Maturity**date then the function returns an error value. - If
**Rate**is less than or equal to 0 then the function will return an error value. - If
**Issue**date is after the**Settlement**date then the function returns an error value. - If
**Frequency**, and**Basis**are non-integer values, then the function uses their floor value, i.e. they are truncated to an integer value. - After truncation if
**Frequency**is any number except 1,2 or 4, then the function returns an error value. - After truncation if
**Basis**is any number except 0,1,2,3,4 or missing (passed as empty argument or not passed at all),then the function will return an error value.

## Additional details:

None

## Examples:

Formula | Description | Returns |
---|---|---|

=ODDLPRICE("1999-02-07";"1999-06-15";"1998-10-15"; 0.0375; 0.0405;100;2;2) | Settlement date: February 7 1999, maturity date: June 15 1999, last interest: October 15 1998. Interest rate: 3.75 per cent, yield: 4.05 per cent, redemption value: 100 currency units, frequency of payments: half-yearly = 2, basis: = 2. The function calculates the price per 100 currency units per value of a security, which has an irregular last interest date. | 99.877842402734 |

=ODDLPRICE("1999-02-07";"1999-06-15";"1998-10-15"; 0.0375; 0.0405;100;2) | Settlement date: February 7 1999, maturity date: June 15 1999, last interest: October 15 1998. Interest rate: 3.75 per cent, yield: 4.05 per cent, redemption value: 100 currency units, frequency of payments: half-yearly = 2, basis: = 0 (by default). The function calculates the price per 100 currency units per value of a security, which has an irregular last interest date. | 99.8782860147214 |

=ODDLPRICE("1999-02-07.05";"1999-06-15";"1998-10-15"; 0.0375; 0.0405;100;2) | The function returns an error value if either Settlement or Maturity are not valid dates. |
#VALUE! |

=ODDLPRICE("2000-07-07";"1999-06-15";"1998-10-15"; 0.0375; 0.0405;100;2) | The function returns an error when Settlement date is after the Maturity date. |
Err:502 |

## Related LibreOffice functions:

## ODF standard:

## Equivalent Excel functions:

ODDLPRICE