Difference between revisions of "Documentation/How Tos/Calc: ODDLPRICE function"

Revision as of 07:08, 27 July 2008

ODDLPRICE

Returns the value of a security per 100 currency units of face value, where the last interest payment is not a whole period.

Syntax:

ODDLPRICE(settlementdate; maturitydate; lastinterestdate; rate; yield; redemptionvalue; frequency; basis)

settlementdate: the settlement (purchase) date of the security.

maturitydate: the maturity date of the security.

lastinterestdate: the date on which the security last pays interest.

rate: the interest rate of the security.

yield: the annual yield of the security.

redemptionvalue: the redemption value of the security per 100 currency units of face value.

frequency: number of interest payments per year (1, 2 or 4).

basis: is the calendar system to use. Defaults to 0 if omitted.

0 - US method (NASD), 12 months of 30 days each

1 - Actual number of days in months, actual number of days in year

2 - Actual number of days in month, year has 360 days

3 - Actual number of days in month, year has 365 days

4 - European method, 12 months of 30 days each

This function currently returns slightly different results to Excel.

Example:

ODDLPRICE("1990-06-01"; "1995-12-31"; "1990-01-01"; 2%; 1.5%; 100; 4; 1)

Calc returns 102.512087533821, which is very slightly inaccurate.

See also:

ODDFPRICE, ODDFYIELD, ODDLYIELD

Financial date systems

Financial functions

Issues:

• This function currently returns slightly different results to Excel.