PRICEMAT

Formulas / PRICEMAT
Calculate the price per $100 face value of a security that pays interest at maturity.
=PRICEMAT(sd, md, id, rate, yld, [basis])
  • Settlement - required, security's settlement date or date the coupon is purchased
  • Maturity - required, security's expiration date or date the security is mature
  • Issue - required, security's issue date expressed as a serial number
  • Rate - required, security's interest rate on the date of purchase
  • Yld - required, annual return of the security
  • Basis - [OPTIONAL] financial day count basis used by the security

Examples

  • =PRICEMAT(1000, 8%, 10, 2, 4/18/2021)

    The function can be used to calculate the price of a bond. For example, if you want to calculate the price of a bond with the following properties: face value of $1000, coupon rate of 8%, maturity of 10 years, frequency of semiannually, and settlement date of 4/18/2021, you could use the formula above.

  • =PRICEMAT(A2, A3, A4, A5, A6)

    The function can also be used to calculate the price of a bond when the face value, coupon rate, and maturity are stored in separate cells in a spreadsheet. For example, if the face value is stored in cell A2, the coupon rate is stored in cell A3, the maturity is stored in cell A4, the frequency is stored in cell A5, and the settlement date is stored in cell A6, then the following formula can be used to calculate the bond price.

Summary

The PRICEMAT function is used to calculate the price per $100 face value of a security that pays interest at maturity.

  • The PRICEMAT function returns the price per $100 face value of a security that will pay interest at maturity.
  • The basis argument in the PRICEMAT function controls how days are counted in the calculation. It allows five options.


Frequently Asked Questions

What is the PRICEMAT function?
The PRICEMAT function is used to calculate the price per $100 face value of a security that pays interest at maturity. This function takes six arguments: settlement, maturity, issue, rate, yield, and basis.
What are the arguments of the PRICEMAT function?
The arguments of the PRICEMAT function are:
  • Settlement: the security's settlement date.
  • Maturity: the security's maturity date.
  • Issue: the security's issue date.
  • Rate: the security's interest rate.
  • Yield: the yield of the security.
  • Basis: the type of day count basis to use.
How do I calculate the price per $100 face value of a security with the PRICEMAT function?
To calculate the price per $100 face value of a security with the PRICEMAT function, enter the six required arguments into the function. The function will then calculate the price of the security.
What is the day count basis used in the PRICEMAT function?
The day count basis used in the PRICEMAT function is the type of basis used to count the number of days between two dates. This basis can be either actual/actual, actual/360, actual/365, or 30/360.

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