Documentation/Calc Functions/PRICE

Function name:
PRICE

Category:
Financial Analysis

Summary:
Calculates the market value of fixed interest security with a par value of 100 currency units as a function of the forecast yield.

Syntax:
PRICE(Settlement; Maturity; Rate; Yield; Redemption; Frequency[; Basis])

Returns:
Returns a non-negative real number which is a quoted price for interest-paying security, per 100 currency units of face value.

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).

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).


 * 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 Redemption is less than or equal to 0 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:

 * The formula for PRICE is:

where A is the number of days from the Settlement date to the next coupon date, B is the number of days of the coupon period that the Settlement is in, C is the number of coupons between the Settlement date and Redemption date, D is the number of days from the beginning of coupon period to the Settlement date.

Related LibreOffice functions:
[[Special:MyLanguage/Documentation/Calc_Functions/PRICEDISC PRICEDISC]

[[Special:MyLanguage/Documentation/Calc_Functions/PRICEMAT PRICEMAT]

ODF standard:
Section 6.12.38, part 2

Equivalent Excel functions:
PRICE