Documentation/How Tos/Calc: TBILLPRICE function

From Apache OpenOffice Wiki
< Documentation‎ | How Tos
Revision as of 09:36, 17 July 2018 by Sancho (Talk | contribs)

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search


Returns the issue price for a US Treasury bill, per $100 par value, given a discount rate.


TBILLPRICE(settlementdate; maturitydate; discountrate)

settlementdate: the settlement (purchase) date of the Treasury bill.
maturitydate: the maturity (redemption) date of the Treasury bill.
discountrate: the discount rate of the Treasury bill.
A Treasury bill is a short term (up to a year) Government security, sold at a discount to its par value (face value). It pays no interest and is redeemed at par value.
The Treasury bill here has a 360 day year basis.
The formula for TBILLPRICE is :
100 * ( 1 - (discountrate * number_of_days_in_the_term / 360) )
where number_of_days_in_the_term are the actual number of days between settlementdate and maturitydate.

An error results if the term given is not less than one year.


TBILLPRICE("2008-07-14"; "2009-01-14"; 4%)

returns approximately 97.99.


  • This function may assist with US Treasury bills if used carefully. The underlying formula may not apply to Treasury bills issued by other governments.

See Also
Personal tools