# 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:

## Arguments:

**Settlement** is the date of purchase of the security.

**Maturity** is the date on which the security matures (expires).

**Last Interest** is the last interest date of the security.

**Rate** is the annual rate of interest.

**Yield** is the annual yield of the security.

**Redemption** is the redemption value per 100 currency units of par value.

**Frequency** is number of interest payments per year (1, 2 or 4).

**Basis** (optional) is chosen from a list of options and indicates how the year is to be calculated.

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 |

## Additional details:

## Examples:

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

The price per 100 currency units per value of a security, which has an irregular last interest date, is calculated as follows:

=ODDLPRICE("1999-02-07";"1999-06-15";"1998-10-15"; 0.0375; 0.0405;100;2;0) returns 99.87829.