ODDFPRICE function
Returns the price per $100 face value of a security with an odd first period
Syntax
ODDFPRICE(settlement, maturity, issue, first_coupon, rate, yld, redemption, frequency, [basis])Square brackets indicate optional arguments.
Arguments
| Argument | Required | Meaning |
|---|---|---|
| settlement | Yes | The security's settlement date."2008-11-11" |
| maturity | Yes | The security's maturity date."2021-3-1" |
| issue | Yes | The security's issue date."2008-10-15" |
| first_coupon | Yes | The security's first coupon date."2009-3-1" |
| rate | Yes | The security's interest rate.7.85% |
| yld | Yes | The security's annual yield.6.25% |
| redemption | Yes | The security's redemption value per $100 face value.100 |
| frequency | Yes | The number of coupon payments per year. For annual payments, frequency = 1; for semiannual, frequency = 2; for quarterly, frequency = 4.2 |
| basis | No | The type of day count basis to use.1 |
Try ODDFPRICE
Price a short first coupon period
=ODDFPRICE(A2,B2,C2,D2,E2,A4,100,2,0)Under US 30/360, the first period has 90 days, settlement accrues 30 days and 60 days remain until the first coupon. With a normal half-year of 180 days, cash flows are 1.5, 3 and 103 per 100 face value, at 1/3, 4/3 and 7/3 half-years after settlement. Discount at 2% per half-year and subtract accrued interest 0.5. Dates are Excel serials, rates are annual decimals and frequency is 2. The bond terms are synthetic.
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ODDFPRICE · top-level call
=ODDFPRICE(A2,B2,C2,D2,E2,A4,100,2,0)Follow the cells behind a result
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Reference and compatibility
Univer 1.0.4 / Apache-2.0. Calculation checks cover the supplied examples only. The browser worksheet does not implement every Excel feature, external service or connected data type.