Documentation/Calc Functions/PRICEMAT

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Function name:

PRICEMAT

Category:

Financial Analysis

Summary:

Calculates the price per 100 currency units of par value of a security, that pays interest on the maturity date.

Syntax:

PRICEMAT(Settlement; Maturity; Issue; Rate; Yield[; Basis])

Returns:

Returns a non-negative real number which is the price per 100 currency units of the face value of the security that pays interest on the maturity 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).

Issue is the date of issue 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.

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 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 Basis is non-integer values, then the function uses their floor value, i.e. they are truncated to an integer 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
=PRICEMAT("1999-02-15";"1999-04-13";"1998-11-11"; 0.061; 0.061;3) Settlement date: February 15 1999, maturity date: April 13 1999, issue date: November 11 1998. Interest rate: 6.1 per cent, yield: 6.1 per cent, basis: 3. The function calculates the price. 99.9848608145316
=PRICEMAT("1999-02-15";"1999-04-13";"1998-11-11"; 0.061; 0.061) Settlement date: February 15 1999, maturity date: April 13 1999, issue date: November 11 1998. Interest rate: 6.1 per cent, yield: 6.1 per cent, basis 0 by default. The function calculates the price. 99.984498875557
=PRICEMAT("1999-02-15.05";"1999-04-13";"1998-11-11"; 0.061; 0.061;3) The function returns an error value if either Settlement or Maturity are not valid dates. #VALUE!
=PRICEMAT("2000-02-15";"1999-04-13";"1998-11-11"; 0.061; 0.061;3) The function returns an error when Settlement date is after the Maturity date. Err:502

Related LibreOffice functions:

PRICEDISC

PRICEMAT

ODF standard:

Section 6.12.40, part 2

Equivalent Excel functions:

PRICEMAT