PRICEMAT

Excel Functions

Get price per $100 interest at maturity

Syntax

EXCEL

=PRICEMAT(sd, md, id, rate, yld, [basis])

Arguments

Parameter	Description
`sd`	Settlement date of the security.
`md`	Maturity date of the security.
`id`	Issue date of the security.
`rate`	Security interest rate at date of issue.
`yld`	Annual yield of the security.
`basis`	[optional] Day count basis (see below, default =0).

Return Value

Bond price

Details

The Excel PRICEMAT function returns the price per $100 face value of a security that pays interest at maturity. In the example shown, the formula in F5 is: with these inputs, PRICEMAT returns a price for the bond of $93.09. In Excel, dates are serial numbers. Generally, the best way to enter valid dates is to use cell references, as shown in the example. To enter valid dates directly inside a function, you can use the DATE function. The basis argument controls how days are counted. The PRICEMAT function allows 5 options (0-4) and defaults to zero, which specifies US 30/360 basis. This article on Wikipedia provides a detailed explanation of available conventions.

Examples

Example 1

The Excel PRICEMAT function returns the price per $100 face value of a security that pays interest at maturity. In the example shown, the formula in F